Halla, Kayulapis tie up

Tue, 28 May 1996, 00:00 WIB | Source: AFP

SEOUL (AFP): South Korea's Halla Group has teamed up with the
Kayulapis Group of Indonesia to build a US$400-million cement
joint venture on the Indonesian island of Java, a Korean group
spokesman said yesterday.

Halla Group chairman, Chun In-Yung, signed the agreement on
the project with Agus Sutanto, chairman of the Indonesian group,
best known for its timber business, over the weekend, the
spokesman said.

The agreement calls for Halla to build the plant on a turn-key
basis, while Kayulapis would be responsible for cement sales and
liaison with the Indonesian government, he said.

The two companies will have a 50 percent stake respectively in
the joint venture, which will have an capacity of 3.5 million
metric tons a year.

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