Siam Cement expands in Indonesia

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Siam CementThailand’s cement giant Siam Cement Group (SCG) has announced plans to expand its presence in Indonesia by building a new cement plant and acquiring more companies in the country, according to the company’s chief finance officer Chaovalit Ekabut.

Ekabut said at a press conference in Jakarta on February 26 that SCG expected to start the construction of a greenfield cement plant in Sukabumi, West Java with a total investment of $356 million to be finished by 2015 and designed for a production capacity of 1.8 million tonnes per year.

SCG is investing in Indonesia’s cement market as it has grown rapidly on the back of increased housing demand and infrastructure projects, he added.

Indonesia’s cement consumption increased by 14.5 per cent to 54.96 million tonnes last year, according to figures from the Indonesian Cement Association. Projections say that the market may reach 100 million tonnes annually in another five to six years.

SCG said it invested $532 million in 2012 in Indonesia. The company’s total assets in Indonesia reached $983 million, accounting for a total of 55 per cent of SCG’s assets in the Southeast Asia region. SCG holds a 96.31 percent stake in Jakarta-listed PT Keramika Indonesia Assosiai and also a 30.03 percent stake in PT Chandra Asri Petrochemical.

Chaovalit said that SCG would perform more acquisitions and was performing due diligence on several companies.

 

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Reading Time: 1 minute

Thailand’s cement giant Siam Cement Group (SCG) has announced plans to expand its presence in Indonesia by building a new cement plant and acquiring more companies in the country, according to the company’s chief finance officer Chaovalit Ekabut.

Reading Time: 1 minute

Siam CementThailand’s cement giant Siam Cement Group (SCG) has announced plans to expand its presence in Indonesia by building a new cement plant and acquiring more companies in the country, according to the company’s chief finance officer Chaovalit Ekabut.

Ekabut said at a press conference in Jakarta on February 26 that SCG expected to start the construction of a greenfield cement plant in Sukabumi, West Java with a total investment of $356 million to be finished by 2015 and designed for a production capacity of 1.8 million tonnes per year.

SCG is investing in Indonesia’s cement market as it has grown rapidly on the back of increased housing demand and infrastructure projects, he added.

Indonesia’s cement consumption increased by 14.5 per cent to 54.96 million tonnes last year, according to figures from the Indonesian Cement Association. Projections say that the market may reach 100 million tonnes annually in another five to six years.

SCG said it invested $532 million in 2012 in Indonesia. The company’s total assets in Indonesia reached $983 million, accounting for a total of 55 per cent of SCG’s assets in the Southeast Asia region. SCG holds a 96.31 percent stake in Jakarta-listed PT Keramika Indonesia Assosiai and also a 30.03 percent stake in PT Chandra Asri Petrochemical.

Chaovalit said that SCG would perform more acquisitions and was performing due diligence on several companies.

 

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