Spindo acquires new machine to produce pipe for oil, gas industry

IDX-listed steel maker PT Steel Pipe Industry of Indonesia (Spindo) signed an agreement with South Korea?s Milltech on Thursday to acquire a new US$80 million machine to produce pipes for oil and gas industry, Kontan reported on Friday.

The paper quoted Tedja Sukmana Hudianto, Vice President Director of Spindo as saying that the new 40,000-ton per month capacity machine would nearly double the company?s current production capacity of 42,000 tons per month.

The new machine, which would start production in second quarter of 2015, would produce 10-inch and 24-inch pipe products for the oil and gas industry. (*)