Myanmar: Indonesian giant Semen Gresik has announced plans to build a cement factory in Myanmar with a production capacity of up to 2.5Mt/yr. The project is estimated to cost US$500m according to Ahyanizzaman, the finance director of Semen Gresik.
PT Semen Gresik is one of four state companies asked by the government under Indonesia Incorporated to expand its operations to Myanmar. Ahyanizzaman added that Semen Gresik chose to expand to Myanmar as demand for cement in that country is strong with supplies falling well short of demand. Cement demand in Myanmar is approximately 8Mt/yr compared to a current domestic production of 4Mt/yr.
The three other state companies asked to expand their operations to Myanmar include oil and gas company PT Pertamina, construction company Wijaya Karya and Bank Negara Indonesia.