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Semen Gresik acquires 70 per cent stake in Thang Long

Update: December, 21/2012 - 10:33

HA NOI (VNS)— Indonesian cement producer Semen Gresik has bought a 70 per cent stake in Thang Long Cement fromthe Ha Noi General Export-Import Joint Stock Company (Geleximco).

The deal will raise the charter capital of Thang Long Cement from VND1.570 trillion (US$74.7 million) to VND4.2 trillion ($200 million).

The cement producer, which has a total production capacity of 2.3 million tonnes per year, is based near the deep-sea port of Cai Lan in the northeastern province of Quang Ninh.=VNS

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