ID :
19059
Fri, 09/12/2008 - 10:48
Auther :
Shortlink :
https://www.oananews.org//node/19059
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SEMEN GRESIK NEEDS AROUND US$300 MILLION FOR INVESTMENT
Jakarta, Sept 11 (ANTARA) - Vice president director of state cement maker PT Semen Gresik, Heru P Adiningrat, said here Thursday the company would need around US$300 million next year in connection with its plan to build new factories.
"The investment need is still uncertain depending on prices of steel and other goods. So it will be around US$300 million," he said during a fast-breaking gathering.
He said the need could be met by banks or other sources. "It depends. We will take the one which most favorable," he said.
He said this year the investment fund could still be sought from internal funds. "This year the internal funds are still sufficient for such purpose, but we will need bigger funds in the second quarter next year and it is only then that we will seek bank loans or funds from other sources depending on which one is most favorable," he said.
Regarding the idea of issuing global bonds he said that the plan still stands, awaiting the right time.
"We still want to see a good condition of the macro-economic situation in the country. We have also appointed an underwriter, JP Morgan," he said.
The company in the next four years needs an investment of US$1.2 to 1.6 billion to be used for building two new cement factories and 10 power plants.
He said the two factories to be set up in Java and Sulawesi would have a cement capacity production of 2.5 million tons a year each.
For the building of the factories the company would need up to US$675 million while for the 10 power plants US$573 million until 2011.
The power plants will be built in several locations such as Indarung (Padang, West Sumatra), Tuban (East Java), Tonasa (Sulawesi) and others, he said.
"The investment need is still uncertain depending on prices of steel and other goods. So it will be around US$300 million," he said during a fast-breaking gathering.
He said the need could be met by banks or other sources. "It depends. We will take the one which most favorable," he said.
He said this year the investment fund could still be sought from internal funds. "This year the internal funds are still sufficient for such purpose, but we will need bigger funds in the second quarter next year and it is only then that we will seek bank loans or funds from other sources depending on which one is most favorable," he said.
Regarding the idea of issuing global bonds he said that the plan still stands, awaiting the right time.
"We still want to see a good condition of the macro-economic situation in the country. We have also appointed an underwriter, JP Morgan," he said.
The company in the next four years needs an investment of US$1.2 to 1.6 billion to be used for building two new cement factories and 10 power plants.
He said the two factories to be set up in Java and Sulawesi would have a cement capacity production of 2.5 million tons a year each.
For the building of the factories the company would need up to US$675 million while for the 10 power plants US$573 million until 2011.
The power plants will be built in several locations such as Indarung (Padang, West Sumatra), Tuban (East Java), Tonasa (Sulawesi) and others, he said.
