Semen Cibinong to build cement plant in Tuban<\/p>\n
JAKARTA (JP): Publicly listed cement maker PT Semen Cibinong
\nwill set up a US$400 million cement plant in Tuban, East Java
\nearly next year with an annual capacity of 2.6 million tons.<\/p>\n
Semen Cibinong's President Hashim S. Djojohadikusumo said the
\nnew project was due to come on stream in 2000.<\/p>\n
Hashim, the son of the country's most senior economist Sumitro
\nDjojohadikusumo, said the plant's construction was intended to
\nbegin early 1996 and be completed in 1998.<\/p>\n
\"But, the project was postponed due to an oversupply projected
\nbetween 1998 and 2000,\" Hashim said after the company's annual
\nshareholders meeting yesterday.<\/p>\n
He said Indonesia would have a cement oversupply of between
\nthree to four million tons a year from 1998 to 2000.<\/p>\n
Yesterday's meeting approved the management's proposal to pay
\nRp 32.8 billion in dividends for 1996, or Rp 200 a share.<\/p>\n
\"The dividend payout represents 31.12 percent of the total
\nnet profit in 1996,\" he said.<\/p>\n
The company booked total net revenues of Rp 768.26 billion in
\n1996, up from Rp 694.84 billion in 1995, and a net profit of Rp
\n105 billion, a 15 percent increase.<\/p>\n
Shareholders also approved the company's plan for a cement
\njoint venture plant in Myanmar with total investment of about
\nUS$105 million.<\/p>\n
Hashim said Semen Cibinong would hold a 70 percent stake in
\nthe venture and 30 percent would be held by state-owned Myanmar
\nfirm, Union of Myanmar Economic Holdings Limited.<\/p>\n
He said the plant was expected to start production with an
\nannual capacity of one million tons in 2000.<\/p>\n
Hashim said Semen Cibinong's total production capacity last
\nyear was 7.1 million tons, three million tons from its Narogong
\nplant in West Java and 4.1 million tons from its Cilacap plant in
\nCentral Java. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/semen-cibinong-to-build-cement-plant-in-tuban-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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