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Chinese company plan JV to build stainless steel factory in Indonesia

 

China’s Delong Holdings Limited plans to build a stainless steel factory in the Morowali Industrial Park in Central Sulawesi in Indonesia, a joint-venture project that will cost approximately US$950 million.

A report in the Jakarta Times said that the proposed plant will have production capacity of 3.5 million metric tons of steel bars, wire and slab. The production will serve demand in eastern Indonesia, said Gusti Putu Suryawirawan, the Industry Ministry’s director general for metals, machinery, transportation and electronic equipment.

Suryawirawan said that the 2,000 hectare industrial park already has a nickel smelter that will supply raw materials for steel factories. Once completed, the steel factory complex will be the second such one in Indonesia, which has another one in Cilegon in Banten.

The proposed joint venture, to be named PT Dexin Steel Indonesia, would have approximately 45% of the shares owned by Delong’s subsidiary, Delong Steel Singapore Projects Pte. Ltd., 43% owned by Shanghai Decent and 12% by PT Indonesia Morowali Industrial Park.

Chinese investment in Indonesia’s manufacturing sector has seen tremendous growth since 2014, the article said.

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