Displaying items by tag: Semen Baturaja

Indonesia: Semen Indonesia subsidiary Semen Baturaja reported sales revenue of US$91.3m during the first nine months of 2023, up by 10% year-on-year. Cement sales contributed US$89.5m towards the total (98%). The producer raised its net profit by 25% year-on-year to US$3.4m. It also distributed US$169,000 as part of its Social & Environmental Responsibility Programme Fund, up by 61%.

General director Daconi Khotob said “The increasing net profit was also supported by a decrease in interest expenses as a result of refinancing bank debt and accelerating principal payments on syndicated credit loans.”

Indonesia: Semen Indonesia subsidiary Semen Baturaja has obtained four loans worth a total US$59.9m. Bank Negara Indonesia, Bank Mandiri, Bank CIMB Niaga and HSBC Indonesia advanced the funds. The loans' syndicated credit agreement aligns with Semen Baturaja's sustainability strategy, which is based on Semen Indonesia's Sustainability Framework.

Semen Baturaja's managing director Daconi Khotob said "This syndicated sustainability-linked loan will provide many benefits for Semen Baturaja, including lower interest rates than conventional loans, more attractive term sheets and the flexibility to make accelerated repayments." Khotob added that the sustainability provisions will also 'broaden the scope of investors.'

Indonesia: Semen Baturaja has signed a memorandum of understanding with Huadian Buket Asam Power. Under the agreement, the producer will supply the power company with limestone for its flue gas desulfurisation (FGD) process in exchange for fly ash, bottom ash and gypsum. The agreement will last two years until March 2023.

The cement producer’s managing director Sumsal Saifudin said, “This collaboration is a form of synergy between the two companies to improve competitiveness, which is much-needed in facing an increasingly competitive industrial environment, by taking advantage of opportunities for the creation of new revenue streams and cost transformation.”