KL firm forms RI venture

KL firm forms RI venture

KUALA LUMPUR (Reuter): Malaysian cement and timber firm
Tengggara Capital Bhd has signed a joint-venture agreement with
P.T. Samana Citra Agung to undertake a US$450 million cement
plant project in Indonesia.

In a statement, Tenggara said the 50-50 joint-venture company
will participate in conducting a feasibility study and the
planning, installation and commissioning of a three million ton
integrated cement plant in Aceh, Indonesia.

The project cost will be financed by internal funds and
borrowings, it said.

The plant will be used to manufacture cement for distribution
and sale in Indonesia and Malaysia.

Tenggara said the project is of strategic importance to its
future role as a major cement producer in the Southeast Asian
region.