Indonesian cement maker Indocement Tunggal Prakarsa (Indocement), has set aside between IDR 4 trillion (€253.8 million/ US$340.2 million) and IDR 5 trillion for capital expenditures (capex).
In January-June 2014, the company has spent just 20% of its total anticipated capex.
According to Tju Lie Sukanto, finance director of Indocement, the company has disbursed IDR 800 billion-IDR 900 billion during the period for the expansion of its P14 plant's capacity in West Java's Citeureup.
Christian Kartawijaya, CEO of Indocement, revealed that the P14 plant would be capable of producing 4.4 million tonnes of cement, with a spending of between $120 (€89.52) and $125/tonne of cement required to set up the plant.
He said with contribution from the plant, Indocement will be able to produce 24.9 million tonnes annually, and that between IDR 5.5 trillion-IDR 6.5 trillion has to be invested to build the plant, which is expected to be completed by the end of 2015.
