Indonesia: State-owned PT Semen Baturaja Tbk has reported a 9.7% decline in sales volumes from 100,603t in January 2014 to 90,764t in January 2015. Zulfikri Subli, corporate secretary of Semen Baturaja, said that the decline is due to increased rainfall and weakening commodity prices, which resulted in property and infrastructure developments being delayed. "Until the end of January 2015, we managed to sell 90,764t valued at US$6.85m," said Subli.
However, Semen Baturaja expects sales volumes to rise in the following months, bringing total sales in 2015 to 1.75Mt and total revenues to US$133m. The company's performance in 2014 was equal with that in 2013, with sales volume of 1.26Mt.
Semen Baturaja is seeking external financing of US$58.7m from the issuance of bonds or bank loans to finance the construction of the Semen Baturaja II plant with a total investment requirement of US$260m.
