China’s Wuhan to spend $5b on integrated iron, steel mill in
Bareksa • 20 Mar 2014
File photo of the headquarters of China's central bank, in Beijing (REUTERS/Jason Lee)
Plans to invest up to US$5 billion this year to build an integrated mill in Indonesia.
The Jakarta Post - Wuhan Iron and Steel Corporation, China’s fourth-largest iron and steel maker, plans to invest up to US$5 billion this year to build an integrated mill in Indonesia.
The firm has carried out a feasibility study for the project and is now assessing the location to set up the mill, says Industry Minister MS Hidayat.
“They are seeking a location that is close to a seaport with a specific depth, sufficient electricity supply and supporting infrastructure,” he said on Wednesday after a meeting with the firm’s executives at his office.