Indonesia plans to open two hot rolling mills in 2024. The total capacity of these plants will be 5.5 million tons per year. New Asia International, a partnership company based in Sidoarjo, aims to start up a rolling mill with a capacity of 1.5 million tons in East Java in the first quarter of 2024. The mill will produce products 600-940 mm wide and 1.5-12 mm thick.
New Asia International will import the slabs from the world market, as the factory does not have a melting furnace.
The second factory, a hot rolling mill with a capacity of 4 million tons, is planned to be built by China's Dexin Group in the third quarter of 2024 in the Morowali industrial zone on the island of Sulawesi.
According to the Southeast Asian Iron and Steel Institute, by the end of 2022, Indonesia's total steelmaking capacity will be 18.5 million tons per year. However, with the opening of new mills, this total could exceed 40 million tons by the beginning of the next decade.
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