Posted on 15 Jun 2022
Indonesian privately-owned steel producer PT Gunung Raja Paksi Tbk (GRP) completed the installation of a Light Section Mill (LSM) this week. The equipment was initially supposed to operate in 2020, but the Covid pandemic caused a delay, Kallanish notes.
The steelmaker invested $68 million to add 500,000 tonnes/year of I and H section steel capacity, it says. The company aims to meet domestic steel demand, especially for H-beams. In addition, GRP said the investment is also in line with Indonesian president Joko Widodo's call to reduce reliance on imported products and support the advancement of domestic industries.
GRP's section steel production capacity will increase to 980,000 t/y after the new equipment is put into operation. According to GRP president Abednedju Giovano Warani Sangkaeng, the national demand for I-beam and H-beam is around 500,000 t/y, which means that GRP can meet domestic market demand over the next 6-7 years, assuming a 6% annual growth.
Source:Kallanish
