SMGR Supply 695,000 Tons Of Cement To IKN Project

Illustration - Employees lift a sack of cement at the PT Semen Gresik factory. (Photo: ANTARA)

JAKARTA - PT Semen Indonesia (Persero) Tbk (SMGR) or Semen Indonesia Group (SIG) has supplied 695,000 tons of cement for a number of IKN development projects from December 2022 to July 2024.

"SIG also presents an environmentally friendly site residence in IKN in the form of a type 36 MBR house built using an interlock brick from GIS green cement," said Finance Director & Portfolio Management of SIG Andriano Hosny Panangian in a Public Expose, Friday, August 30.

Andriano explained that the SIG interlock brick has been tested adequate for application in areas with a high level of seismicity in accordance with the 2D Modular Cyclic test standards from the Ministry of PUPR.

"The presence of this interlocked brick is expected to be a solution to support the Government in presenting decent housing for people who can be built faster and more efficiently," he continued.

He further explained that the volume of cement needs and other very high construction raw materials at IKN made GIS not only cooperate by supplying construction contractors, but also included in the consortium of PT Karya Logistik Nusantara (KLN) which is a consortium of BUMN Karya which will supply concrete, all raw materials and logistics management in the development of IKN.

Not only that, but GIS also made a capital participation of Rp. 22.5 billion to PT Karya Logistik Nusantara (KLN) through the right issue scheme carried out by KLN.

Thus, GIS is included in the ranks of KLN shareholders with a share ownership portion of 20.9 percent and strengthens the Company's position to supply building materials and sustainable solutions for development projects at IKN.

In terms of revenue until the first semester of 2024, SIG managed to record revenue of IDR 16.41 trillion and profit for the current period of IDR 503.49 billion.

GIS also maintains financial resilience by recording cash flow from positive operations, so as to reduce debt balance and maintain a healthy solvency ratio.

"Healthy financial conditions are reflected in the increase in GIS to idAAA rankings with stable outlooks which are the highest rankings of Pefindo, as well as the entry of GIS in the Pefindo Index constituent list," he concluded.