Semen Indonesia allocates Myanmar spend

Semen Indonesia allocates Myanmar spend
21 April 2014

PT Semen Indonesia has allocated US$200m for the acquisition of a cement plant in Myanmar, Agung Wiharto, corporate secretary of the Indonesian cement group has revealed. The deal will not be completed this month, as previously expected, but due diligence is currently underway.

In an interview with The Jakarta Post, Mr Wiharto said that Myanmar’s cement demand stood at between 8-9Mta, while cement producers could only supply half that volume. "They've imported cement from Thailand and China. We want to capture that market with our presence," he said.

Semen Indonesia is pursuing a regional expansion programme, and has already established on a joint venture with Thang Long Cement Joint Stock Company (TLCC) in Vietnam.

Published under Cement News