Loan for Semen Gresik

Loan for Semen Gresik

JAKARTA (JP): PT Semen Gresik, a state-owned cement firm listed on the capital market here, yesterday received a syndicated loan worth Rp 363.3 billion (US$158.3 million) to finance its Tuban II production unit.

The company said that the loan was provided by five state- owned banks led by Bank Dagang Negara. The other banks were Bank Ekspor Impor Indonesia, Bank Negara Indonesia, PT Bank Pembangunan Indonesia and Bank Tabungan Negara.

The planned Tuban II unit will have a production capacity of 2.3 million tons per annum. The construction of the unit, which started in January, is expected to be completed in early 1997.

Semen Gresik will also construct its Tuban III unit next year with a production capacity of 2.3 million tons a year at a cost of $80.7 million,

The company reported that after the completion of the construction of the two units in 1998, its total production capacity will reach 17.3 tons per annum.

By that year, the country's total cement production capacity will be 44.7 million tons, as compared to 26.1 million tons this year. (08)