Semen Indonesia Exploring Possibility to Acquire Factory in Bangladesh

Padang, W Sumatra (Antara) - Publicly listed PT Semen Indonesia claimed it was exploring the possibility to acquire a cement factory in Bangladesh as part of its efforts to expand business. Semen Indonesia President Director Dwi Soetjipto stated on Monday that the Bangladeshi cement factory had a capacity of 600 thousand tons to 1 million tons per annum. "We are now in the process of approaching the management of the factory for further negotiations. Hopefully, it can be realized in the coming six months," Dwi noted after laying the cornerstone for the construction of the Indarung VI factory in Padang, West Sumatra. Dwi pointed out that Semen Indonesia, which has a wide network, will have a positive impact on the cement business in Bangladesh. When asked about the investment value that Semen Indonesia will make in Bangladesh, Dwi Soetjipto was reluctant to reveal further details, saying that the acquisition value was comparatively lesser than that made for Thang Long Cement in Vietnam. On November 2012, Semen Indonesia acquired 70 percent of Thang Long Cement from Geleximco worth US$157 million. On the occasion, Dwi also disclosed that his company will build a new factory in Rembang, Central Java, in June. "We will begin the construction of a new factory in Rembang in mid-June," he remarked. (*)