Mar 12, 2011

Semen Gresik to spend US$3 billion

Indonesia's largest cement maker PT Semen Gresik Tbk (SMGR) requires US$3 billion to underpin its expansion as of 2015, enabling the company to jack up its production to 30 million tons.
The company is targeting to produce beyond 20 million tons this year. Semen Gresik President Director Dwi Sutjipto said its installed capacity will be lifted by 1.5 million tons annually.
Finance Director Ahyanizzaman, replacing its predecessor Cholil Hasan, said the company aims to establish two new production facilities in West Sumatra. Adding to that, it will require US$700 million for the new facilities with 2.5 million tons of installed capacity.
"We are eyeing Western to tap the market demand. We have new facilities in Tuban, covering Java," he said.
Shareholders' meeting on Friday appointed three directors, Ahyanizzaman as Finance Director and Erizal Bakar as Director of Business Development and Strategy, and Bambang Sugeng SI as Human Resources Director.
Dwi Sutjipto remains at the helm as president director, Suharto as Director of R&D and Operational, Irwan Suarly and Suparni are still at their position as Marketing Director and Production Director respectively.   

Disclosure: No position at the stock mentioned above.
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