Chinese firm plans steel plant in RI
Tuesday, December 12 2017 - 02:06 AM WIB
China?s Shenwu Technology Group Co Ltd, and Indonesian steel maker PT Gunung Garuda plan to set up a joint carbon steel plant in Batu Licin, South Kalimantan Province, Bisnis Indonesia reported on Tuesday.
The paper quoted Minister of Industry Airlangga Hartarto as saying that the two companies have signed a MoU for the planned steel plant project with production capacity of 3 million tons per year.
He said that the carbon steel plant will help meet growing demand at home amid massive infrastructure projects planned by the government. No further details were provided.
According to government data, domestic steel consumption last year stood at 12.7 million tons, while domestic production stood at only 6.8 million tons of crude steel. The country imports the remaining steel requirement. Domestic consumption is projected to jump to 21.4 million tons by 2025. (*)