State-controlled cement maker PT Semen Baturaja Tbk aims to get bank loans worth 700 billion rupiah to 800 billion rupiah (about $58 million to $66 million) to develop a new factory worth 2.9 trillion rupiah in South Sumatra, Kontan newspaper reported, citing Corporate Secretary Zulkifri Subli.
The firm plans to start construction of the plant that will have a capacity of 1.85 million tonnes per year early next year and expects to start operation in 2018. Semen Baturaja recorded sales volumes of 853,089 tonnes from January to September. It is targeting a 2014 full-year sales volumes of 1.31 million tonnes, up 4 percent from a year earlier, the report said.
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