PT Holcim Indonesia, the country's third largest cement producer, said it has secured a loan of USD150 million to be used to expand its
production capacity.
The local unit of Swiss-based cement giant Holcim said the loan was provided by BNP Paribas and KFW IPEX-Bank of Germany.
Company Director Rusli Setiawan said the fund will be used to finish the construction of a new USD450 million cement factory in Tuban, East Java.
Construction of the new factory with a with a capacity of 1.7 million tonnes a year is underway to be completed in 2013.
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