Gunawan to build new steel plant
Monday, June 23 2014 - 01:20 AM WIB
IDX-listed steel maker PT Gunawan Dianjaya Steel Tbk plans to build a new US$100 million plant near its headquarters in Surabaya, East Java, to expand production capacity and meet growing demand, Kontan reported on Monday.
The paper quoted company Corporate Secretary Hadi Sutjipto as saying that construction is expected to start next year in the hope that it could start production in 2016.
Once the new plant is operating, Hadi said that the company?s production capacity is expected to jump from 400,000 tons per year to 1.4 million tons per year.
Gunawan Dianjaya last year said sales declined by 14.55 percent to Rp 1.41 trillion from Rp 1.65 trillion in the previous year. (*)