21
Jul
12:43
Indonesia's GRP expects demand growth
Despite the recent decline in global steel demand, Indonesian privately-owned steel producer PT Gunung Raja Paksi Tbk (GRP) expects positive growth in local steel demand in Indonesia.
This is mainly because Indonesia's key government functions will be relocated to the island of Borneo, Gunung Raja Paksi's top executive told Nikkei Asia. New buildings and infrastructure will bring more demand for steel, Kallanish notes.
The mill will spend more than IDR 1 …
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