Asia / Oceania
Siam Cement Group to construct $300-million factory in West Java
Mar, 12 2012
(India) -- Siam Cement Group plans to construct a US$300-million factory at Sukabumi, West Java.
The construction of the factory will begin in mid-2012 and it will be completed in two and a half years. The factory is expected to produce 5,000 tons of cement per day.
Siam Cement Group CEO Kan Trakulhoon said “The whole production will be marketed in Indonesia.”
He added that the company invested in Indonesia because of the country’s good business climate and the fact that it has survived the impact of global crisis in 2008, “Unlike some other Asian countries which have been impacted by the crisis,” the CEO said.
Indonesian President Susilo Bambang Yudhoyono also met with leaders of Thailand’s Siam Cement Group (SCG) at the Presidential Office on Tuesday.
Representatives of Chandra Asri Petrochemical, Siam’s business partner in Indonesia, also attended the meeting.
The giant Thai cement producer intended to seek government support of its expansion plan, which includes the construction of the US$300 million plant in Sukabumi, West Java.
With total assets of about $970 million, Indonesia is SCG’s biggest foreign investment destination, Kan Trakulhoon said.
“We also have also been investing in Vietnam, the Philippines and Cambodia,” he said.
SCG began its business in Indonesia in 1996 and has continued expanding due to the Thai firm’s confidence in Indonesia’s solid economic growth, Kan said.
SCG is a business group controlled by Thailand’s royal family.
By: Rashmi Kalia (ARI-C NEWS)
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