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Indonesian infrastructure boost

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World Cement,

Infrastructure spending in Indonesia has begun to increase after long delays.

The boost has been welcomed by President Joko Widodo, assisting his plan to boost Southeast Asia's largest economy by building new roads, ports and bridges.

The Indonesian government has increased capital spending, leading to a sharp boost in cement sales and imported capital goods and raw materials.

That has helped support shares of construction firm Adhi Karya Tbk, cement maker Semen Indonesia and other infrastructure-linked firms.

Annual cement sales increased by 15% in August, the first increase since January.

Stronger sales have helped lift shares of the country's largest cement maker, Semen Indonesia, by more than 30% after hitting a six-year low last month.

Edited from source by Joseph Green. Source: Reuters

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