Halla's Indonesian plant

Halla's Indonesian plant

SEOUL (UPI): The Halla Group, a South Korean business group, has signed an agreement for a joint venture with PT Surya Sinaga Sakti of Indonesia to build a cement plant, a group spokesman said.

The two companies will invest US$225 million into the joint- venture plant, which will be located in West Java, Indonesia.

Construction will be completed in early 1999, the group spokesman said.

Halla also will undertake construction of the plant on a turnkey basis, which will produce about 1 million tons of cement annually. Indonesia is known to be under an acute shortage of cement, the spokesman said.