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India's Essar to boost CR coils capacity at Indonesia steel unit

Source : REUTERS
Last Updated: Wed, Jan 23, 2013 07:30 hrs

JAKARTA, Jan 23 (Reuters) - The Indonesian unit of Indian conglomerate Essar Group plans to increase its annual cold-rolled coils output capacity at its domestic steel factory to 700,000 tonnes this year from 400,000 tonnes, a government official said on Wednesday.

Panggah Susanto, the director general of manufacturing industry at the industry ministry, told reporters that the CEO of PT Essar Indonesia, K.B. Trivedi, met Industry Minister Mohamad Hidayat on Wednesday to inform him about the plan.

"For the expansion, the company plans to invest $120 million this year," said Susanto, adding that domestic demand for cold-rolled coils is around 2.5 million tonnes a year.

Trivedi declined to comment on the discussions with the minister when asked by reporters.

Besides cold-rolled coils, the Indonesia unit also makes hot-dipped galvanized steel coils and sheets. (Reporting by Yayat Supriatna; Editing by Muralikumar Anantharaman)




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