ThyssenKrupp to build cement plant in Indonesia

German heavy industry giant ThyssenKrupp said Thursday it has won a contract worth $250 million (194 million euros) to build a cement plant for Swiss group Holcim in Indonesia.

"ThyssenKrupp Polysius has won a contract from Holcim Indonesia to build a second cement plant near the town of Tuban on the northern coast of the island of Java," the German company said in a statement.

A first cement plant is currently under construction in Tuban, which is scheduled to begin operation in 2013. The second plant will start production in 2015, it said.

The two plants will each have capacity of 1.7 million tonnes of cement per year, the statement said.

The Indonesian cement market is predicted to grow at a double-digit rate in 2013.

With a production capacity of 8.2 million tonnes a year Holcim Indonesia is one of the country's top three manufacturers, ThyssenKrupp said.