BEKASI (Yosefardi) – PT Bakrie Metal Industries plans to invest US$150 million, equivalent Rp1.97 trillion, for next 5 years, used to fund the development of its steel processing.
It plans to add 5 production facilities for oil and gas sector located in Cilegon, West Java, Cepu (Central Java) and coating plant in Bekasi (West Java) and Lampung (Sumatera).
Currently Indonesia has 352 steel procuders with total production capacity of 14 million tons per year. Steel export in 2014 reached US$2.23 billion, up 16.9% from US$1.91 billion in 2013.
While steel import totaled US$12.58 billion last year, down 0.19% from US$12.6 billion in previous year.Domestic steel consumption reached 12.7 million tons in 2014, from 7.4 million tons in 2009.