Taiwanese steelmaker China Steel is planning to set up a steel plant in Sulawesi, as part of its efforts to relocate some of its less profitable businesses out of the country to benefit from cheap overseas labor.
The company has signed an agreement with local steelmaker Artha Metal Energy to conduct a feasibility study for the project, the head of the Ministry of Metals, Machinery, Transport, Equipment and Electronics Industry said Monday. Investment in the construction of a steel plant is estimated to reach $ 300 million, he added.
Taiwanese companies in machine tools, components, petroleum products and plastics have expressed interest in relocating some of their factories to Indonesia and Thailand. The Ministry of Industry is proposing to use the industrial complex in Banten, Cikarang (West Java) and Gresik (East Java) to meet the demand for a highly skilled workforce. In addition, the companies could set up their base in Sulawesi, where there is a short logistics route to Taiwan, the ministry said.
Taiwanese companies move production to Indonesia
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Azovpromstal® 1 September 2015 г. 14:07 |
