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
The managing director of
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.
