Artha Graha to develop integrated steel production facility

The well-diversified Artha Graha Group through its subsidiary PT Artha Metal Sinergy plans to develop an integrated steel production facility, starting next year, reports said Wednesday.

Bisnis Indonesia quoted Artha Metal CEO Felix Effendi said the company will first develop plant to produce steel products for the construction sector amid high demand in the country.

He added that the entire upstream to downstream facility will be completed in 5-7 years.

?The (planned) investment will be realized in a number of phases. The first to be built is steel plant in the downstream, the steel requirement will be imported. We want to become a major player here,? he said, after meeting Minister of Industry Saleh Husin Tuesday, adding that the first phase of the project will be located in Java.

Felix hopes the government to provide tax and other incentives. He declined to provide further details. (*)