Jakarta-PT Semen Gresik Tbk (SMGR) finalize the proposed acquisition of coal mine fields to meet the needs of raw material supply. Even state-owned company has been allocated around Rp 1 trillion for the corporate action.

"The allocation of funds around Rp1 trillion, 50 percent and 50 percent from the outside. It could borrow, can bond," said President Director of PT Semen Gresik Tbk, Dwi Soetjipto interrupted the event 5th Annual Best Financial Institutions Awards 2011, at Pacific Place, Jakarta, Monday, September 12, 2011.

Dwi expects the acquisition coal company will help meet the needs of its coal by 10 per cent of the total coal demand.

Semen Gresik recorded, coal demand for the business group, Semen Gresik is expected to reach 3 million tons. Total demand is estimated to be increased to 4 million tons if the company has a new factory again.

Although not yet willing to reveal the name of the coal miner who became his aim, Dwi reveal the selected mine sites located on the island of Borneo.

Previously reported, Semen Gresik is conducting a study to acquire a coal mining concessions in the country which has been operating. The effort over the medium and long term plans to increase the installed capacity of the company's cement production.

To meet the installed capacity, the needs of the company's coal consumption during 2011 reached 3.5 million tons. Coal consumption is further increased above 6.5 million tonnes per year in 2015, with increases in the targeted company's installed capacity of close to 30 million tons of cement per year.