Taiheiyo Cement Plans to Invest US$220 Million in SMCB


Taiheiyo Cement Corporation (TCC) plans to invest in PT Solusi Bangun Indonesia Tbk (SMCB) through a capital investment of US$ 220 million or equivalent to Rp3.098 trillion.

"The capital participation is carried out by absorbing new shares that will be issued by SMCB with Pre-emptive Rights (HMETD)," said SMCB President Director Aulia Mulki Oemar in the IDX disclosure on Wednesday (27/1).

Regarding the plan, the transfer and equity participation agreement (SSA) has been signed by SMCB, PT Semen Indonesia Industri Bangunan (SIIB), and TCC. on January 26, 2021

The implementation of SSA and the right issue will be under the applicable laws' provisions.

Along with TCC's investment plan, SMCB also signed an offtake agreement with TCC to increase the cement plant utilization. The offtake agreement is a master sale and purchase agreement for cement. In implementing the agreement, SMCB will follow the provisions of the applicable laws.

"With the signing of the SSA and the offtake agreement, it is hoped that it can strengthen the company's capital structure and position in carrying out its business activities," he said.


Penulis : Widya