Semen Indonesia’s cement factory shaping in Vietnam
Sunday, 13:01, 15/06/2014
(VOV) - State-run cement producer, Semen Indonesia plans to invest US$250-300 million to build a new cement plant in Vietnam next year, as part of its strategy to expand business in Southeast Asia (SEA).
Semen Indonesia Director General Dwi Soetjipto said Indonesia’s leading cement producer will increase production capacity of its Vietnamese subsidiary Thang Long Cement Company (TLCC), by building a new factory with a design capacity of 1.5 million tonnes per year.
Mr Soetjipto said that constructionis expected to begin in early 2015 and will take three years to complete. The investment capital for the new plant is mostly sourced from bank loans.
The Director General said that as TLCC’s current design capacity stands at 2.5 million tonnes per year, building the facilitywill meet the increasing demand for cement in Vietnam and other ASEAN statessuch as Singapore, Cambodia, Laos and Myanmar.
Semen Indonesia holds 70% of TLCC’s shares while the remainingbelong to Geleximco. It aims to become the leading cement producer in SEA and boost its exports to new Southeast Asian markets such as as Bangladesh and Sri Lanka.
Mr Soetjipto said that constructionis expected to begin in early 2015 and will take three years to complete. The investment capital for the new plant is mostly sourced from bank loans.
The Director General said that as TLCC’s current design capacity stands at 2.5 million tonnes per year, building the facilitywill meet the increasing demand for cement in Vietnam and other ASEAN statessuch as Singapore, Cambodia, Laos and Myanmar.
Semen Indonesia holds 70% of TLCC’s shares while the remainingbelong to Geleximco. It aims to become the leading cement producer in SEA and boost its exports to new Southeast Asian markets such as as Bangladesh and Sri Lanka.