Antam plans to set up new plant

General mining company PT Aneka Tambang (Antam) plans to set up a plant facility for the manufacturing of stainless steel powder by taking advantage its abundant ferronickel reserves.

Antam signed on Monday an MoU with the state-sponsored agency for technology development and research (BPPT) to launch a feasibility study for the project.

Antam director for operation Harsojo Dihardjo said that the project would help Atam to expand into the fat-margin downstream sector.

He said that the domestic stainless steel market was huge.

?We don?t need to export because the domestic market alone is very promising,? he said.(Amoros)