Reportedly, Essar Group, a multinational corporation in India will invest US$125 million in its cold rolled coil (CRC) production capacity and aim to lift the annual capacity to 700,000 tons.
Mr. KB Trivedi, the president director and chief executive officer of PT Essar Indonesia said in a meeting with Indonesia Industry Minister Mr. MS Hidayat in Jakarta.
At present Essar has annual capacity of CRC at 400,000 tons, making it the second largest producer of CRC in Indonesia after state own Krakatau Steel.
The annual output involved 150,000 tons of GI strips and 100,000 tons of cold rolled soft steel.
In the background, total CRC consumptions in Indonesia amount to 2.4 million tons per year. However the merely 1.63 million tons of overall output leave the remainder sourced from imports from China, Japan, South Korea, Taiwan and Vietnam.