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Extension of Semen Gresik sale deadline sought.

Jakarta Post

| September 27, 2001 | COPYRIGHT 1999 PT Bina Media Tenggara. (Hide copyright information)Copyright

JAKARTA (JP): The government has asked Mexican-based cement producer Cemex SA de CV to extend its deadline for the purchase of a US$520 million share in PT Semen Gresik, amid pressure from legislators opposing the sale.

The Ministry of State Enterprises' director of state enterprises restructuring and privatization, Parkesit Soeprapto, said on Wednesday that the government needed more time to consider whether it would go ahead with the sales, or bow to legislators' demand.

"I was informed that the Ministry of State Enterprises' secretary (Bacelius Ruru) has issued a letter for an extension of the put option deal," Parkesit said during a hearing with the House …

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