December 02, 2008

China to build 2 steel plants in Indonesia

It is reported that China Steel Resources Holding Company will build two steel factories with a combined capacity of 3 million tonne per annum in Indonesia.

As per report the construction of the steel plants will be carried out in two stages within a span of five years with the first plant to be built at Banjarmasin in South Kalimantan.

Mr Achmad Kurniadi of the Investment Coordinating Board on the sidelines of an international convention of Chinese businessmen said that "In the first stage, the steel plant to be built will have a capacity of 1.5 million tons in Banjarmasin. It will be followed by the construction of another plant with a capacity of 1.5 million tonne in the second stage.”

He said the location of the steel plant that would be built in the second stage had not yet been decided.

Mr Achmad hoped that Chinese investors attending the convention would be attracted to make their investment in other sectors such as the manufacturing and transportation sectors. He added that "The Chinese investors have looked at the mining sector in the country and we are waiting for their investments in the transportation sector as well.”