Indonesia: SI jv cement plant with Samana Citra

The managing director of Semen Indonesia, is reported as saying that the state cement producer has set up a new joint venture company with mineral and mining company, Samana Citra Agung. The joint venture, to be known as Semen Indonesia Aceh, plans to set up a cement plant in Aceh with an annual capacity of 3 million tonnes. SI will take a 87.5% stake in the new entity while the remaining 12% will be owned by Samana Citra. Investment for the plant is projected at up to IDR 5 trillion (€337.74 mill

March 22, 2016 Read time: 1 min

The managing director of 7818 Semen Indonesia, is reported as saying that the state cement producer has set up a new joint venture company with mineral and mining company, Samana Citra Agung.

The joint venture, to be known as Semen Indonesia Aceh, plans to set up a cement plant in Aceh with an annual capacity of 3 million tonnes.

SI will take a 87.5% stake in the new entity while the remaining 12% will be owned by Samana Citra.

Investment for the plant is projected at up to IDR 5 trillion (€337.74 million/US$380.59 million).

Construction of the plant is expected to start in 2016 and completion is set for 2020.

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