INTP to finish P14 cement mill in 2015

PT Indocement Tunggal Prakarsa (INTP IJ, BUY, TP: IDR29,000) will finish developing new cement mill P14 in Citeureup, West Java by 2015. The new plant will have 4.4mn tons/annum of capacity and worth IDR5.5trn. Out of the IDR4-5trn of capex allocation, IDR880bn have been spent to develop the new mill. On the other hand, INTP has also finished the development of the new cement grinding facility with 1.9mn tons of capacity.