JAKARTA. PT Semen Indonesia Tbk (SMGR) has prepared a capital expenditure (CapEx) budget of Rp 2 trillion this year for the development of downstream cement products.
Doddy Sulasmono, Finance Director of SMGR, said the development of downstream products can help the company solve oversupply problem."These are our efforts as a foundation for the future so that we can be freed from oversupply," explained Sulasmono as quoted by Kontan on Tuesday (11/2) yesterday
SMGR relies on its internal cash for its CapEx budget this year. The company's CapEx budget this year is smaller than the budget prepared in 2018, which was Rp 2.5 trillion.
For information, SMGR sales in the period of January- October 2019 was recorded at 21.54 million tons, 4.1% lower than the figure recorded in the same period in 2018. (KR/AR)