HeidelbergCement benefits from private-sector upturn in Indonesia

FRANKFURT, Aug 1 (Reuters) - Germany's HeidelbergCement (Amsterdam: HC6.AS - news) believes the worst is over for its business in Indonesia, its largest market by capacity, as private projects in the capital make a comeback, favouring foreign suppliers and the location of its plants.

"We see that Jakarta is coming back strongly, especially in the private sector. Until now it has been mostly infrastructure, where state organisations were clearly favoured," Chief (Taiwan OTC: 3345.TWO - news) Executive Bernd Scheifele told journalists on a conference call.

"That is turning now," he said. "We are getting our piece of the pie. We see a trend change."

HeidelbergCement (IOB: 0MG2.IL - news) shares turned positive, trading 0.8 percent higher at 84.47 euros by 0918 GMT.

Earlier, the shares dropped to the bottom of the blue-chip DAX after the world's biggest maker of aggregates used in concrete and the second-biggest maker of cement reported quarterly results that fell short of expectations. (Reporting by Georgina Prodhan; Editing by Maria Sheahan)