Bajatama seeks for Japanese partner

IDX-listed steel maker PT Saranacentral Bajatama Tbk plans to divest a 10 percent stake to a Japanese investor to help improve efficiency, bolster competitiveness, and assist in long-term expansion program, Bisnis Indonesia reported on Wednesday.

The paper quoted Ibnu Sutanto, a commissioner at Bajatama, as saying that the Japanese partner would help the company in competing particularly with massive inflow of Chinese products. He, however, did not disclose the identity of the would-be Japanese partner.

Bajatama currently has installed production capacity of 100,000 tons per year, but production currently stands at slightly higher than 50 percent of the capacity. The company aims for a 10 percent increase in production this year. (*)