Semen Indonesia to complete Bangladesh-Myanmar acquisitions in early-2015
First publishedon www.AggBusiness.com
Semen Indonesia will reportedly take at least six months to complete the acquisition of a cement plant in Bangladesh. The Bangladeshi plant will have an estimated annual capacity of 600,000tonnes-1 million tonnes, according to the president director of state-owned cement producer Dwi Soetjipto.
Dwi refused to reveal the value of the Bangladeshi deal but mentioned that it will not cost as much as an earlier deal in Vietnam, where Semen Indonesia spent US$ 157 million to buy a 70% stake in Thang Long Cement Company (TLCC) from Geleximco.
Meanwhile, Semen Indonesia's acquisition of a local cement producer worth $200 million-$300 million in Myanmar is due to be concluded in July 2014.