Indonesia to cut steel imports in 2016 owing to new steel capacities

摘要

Indonesia will cut its steel imports by $343 million during next year owing to new capacities to be built by foreign steelproducers.Due to attraction of foreign investments in new steel capacities construction in Indonesia, the country will be able toreduce its steel imports by $343 million in 2016, according to Indonesian Investment Coordinating Board (BKPM) statement.“With the 54 ongoing steel [factory] constructions that BKPM is monitoring, the steel industry could cut back imports byabout $343.2 million for next year’s demand,” Jakarta Globe reported citing head of BKPM Mr. Franky Sibarani.