"Expansion overseas is still in the process," said Dwi Soetjipto, the president director of Semen Gresik, in which the Indonesian government controls a 51 percent stake.
Earlier this month, Dwi
signaled that the company was looking at acquiring stakes in cement makers in Malaysia, Burma, Vietnam and Thailand as it seeks to expand its reach in the region.
gave no indication of the size of the investment at that time.
told Investor Daily last week that the company is still seeking partners as well as making valuations of investment opportunities and acquisitions in the Southeast Asian nations.
"Hopefully, the decision will come out in November," he