WISCO and PT Gunung Garuda to jointly build steel plants in Indonesia

Indonesian steelmaker PT Gunung Garuda is to build new joint venture steel production plants in Indonesia in cooperation with Chinese steel producer Wuhan Iron and Steel Co. (WISCO) in projects worth a total of $3 billion.
 
Indonesian Minister of Industry Mohamad Hidayat said that the two plants in question will have an annual production capacity of 3-5 million mt of special steel for application in the automotive sector. The first plant is expected to be constructed in North Sumatra, and will be put into production in 2013. The second plant, also in North Sumatra, will begin production in 2014.