PT Indocement to Invest $US420MLN

IN NEW FACTORY

JAKARTA, May 15 Asia Pulse - The country's second-largest cement producer, PT Indocement Tunggal Prakarsa (JSX:INTP) has said it will invest US$420 million to build a new cement factory.

The final decision, however, would be made after the completion of a feasibility study expected this year, company Finance Director Christian Kartawijaya said after a shareholders' meeting yesterday.

Christian said the new factory would have an annual production capacity of three million tons and the project would be completed in three to four years.

The location of the new factory was yet to be determined, he added.

The company, which is 65.12% owned by Germany's Heidelberger Zement Ltd, will have an annual production capacity of 21 million tons after the new factory comes on line.

(ANTARA)

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