Holcim plans major cement plant in Indonesia
The Swiss-based Holcim group is to invest about $450 million (SFr501.7 million) to build a new plant on the island of Java in Indonesia.
Holcim, which is the number two on the cement market after Lafarge of France, said the plant, with an annual capacity of 1.6 million tons, is expected to go into service in the first half of 2013.
In a statement from its headquarters in Zurich, the company said on Friday that Java had registered the country’s highest volume growth for 2009 cement consumption.
“This investment will allow Holcim Indonesia to keep up with the expected market growth,” it added.
The Indonesia business had a turnover of about $500 million last year and currently employs 2,500 people.
The Holcim group made a net profit of SFr1.47 billion in 2009, a decline of 17.5 per cent compared with the previous year.
swissinfo.ch and agencies
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