Will Indonesia Become The Largest Stainless Steel Exporter In 2021? CFHI To Invest $ 3 Billion In Indonesia To Build Metal Smelter

According to reports, Mr. Luhut Binsar Pandjaitan, Minister of Maritime and Investment Coordination of Indonesia, believes that with the continued growth of stainless steel exports from Indonesia, Indonesia will become the world’s largest stainless steel exporter by 2021.

Mr Luhut Binsar Pandjaitan recently stated that our stainless steel exports have reached $ 5.8 billion annually.

The Indonesian Ministry of Industry’s previously recorded steel exports increased from 302,919 tons in 2017 to 459,502 tons in 2018 (January-September), while HRC stainless steel exports increased from 324,108 tons to 877,990 tons.

China National Heavy Industries

It is reported that China National Heavy Industries Corporation (CFHI) will invest about 120 trillion dongs in the Palu Special Economic Zone (KEK) in Central Soviet Province, and this investment activity will be implemented in January 2020.

China First Heavy Industries (known as CFHI) founded since 1954, is one of important state-owned enterprises relating to the national security and national economy under the administration of central government.

Chairman of China National Heavy Industry Corporation Liu Mingzhong said in Jakarta on December 17 that the Chinese state-owned enterprise plans to invest about 120 trillion rupiahs in the Baru Special Economic Zone.

Mingzhong Liu, Chairman of CFHI

Liu said, “We plan to start implementing the investment plan in January next year. The initial investment amount is 3 billion U.S. dollars, or about 40 trillion dongs. We have sent inspection teams to visit the Palu Special Economic Zone and also bought the local 1200 Hectares of land, we hope to implement the investment plan as soon as possible. “

Andi Mulhanan Tombolotutu, general manager of Bangun Palu Sulteng (BPST), which is responsible for the management and development of the Baru Special Economic Zone, said that the CFHI Group will implement its investment plan at “China speed”, which is to start building three Metal smelter.
“They will complete three metal smelters, iron ore, nickel ore and copper ore, in six months,” Andi said.

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