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Indonesian State-owned Companies to Invest in Burma

3 July 2013

Tin-mining company Timah and cement manufacturer Semen Indonesia, both controlled by the Indonesian government, are gearing up to invest in Burma in the very near future, according to a report by the Jakarta Globe. Timah said it hopes to wrap up an agreement to form a joint venture in the country by August, with an investment of between US $33 million and $38 million that will make it the majority shareholder. Meanwhile, Dwi Soetjipto, the president director of Semen Indonesia, said the company plans to purchase controlling stakes in a pair of cement makers in Burma for $200 million. Neither company disclosed its potential partners.