China?s Nisco to build factory in Medan, buy more coal from Indonesia
Wednesday, August 28 2013 - 04:07 AM WIB
China firm Nanjing Iron and Steel United Co. Ltd or Nisco would purchase more coal in Indonesia as it planned to establish a factory in Medan, North Sumatra, in 2014, a top official of the firm.
Chairman and CEO of Nisco Yang Siming said that the factory would require coal for its operation and it would buy it from local sources.
?We have cooperated with PT Gunung Garuda to build a factory in Medan. For efficiency, the factory will buy natural resource commodities domestically, including iron and coal,? he told Petromindo.com as on the side lines of the opening of new branch office of the firm in Indonesia.
On longer term, Yang said that the firm could buy more coal from Indonesia to produce more steel as he forecast demand from Indonesia to be higher.
Nevertheless, he could not elaborate further the amount of the coal to be bought.
Editing by Reiner Simanjuntak