Posted on 03 Sep 2024
PT Inerco Global International and PT Artas Energi Petrogas, two steel pipe producers in Indonesia, signed an agreement with a value of Rp 5 trillion in funding the establishment and operations for Southeast Asia's first seamless pipe plant in Cilegon, Banten.
Luntungan, CEO of PT Inerco Global International, said that Indonesia’s oil and gas industry has an annual demand for seamless steel pipes of 500,000 tons due to the government's efforts in raising domestic oil output, adding his hope for the seamless pipe plant’s assistance in saving foreign exchange for the country.
Luntungan also said that the project is in line with President Joko Widodo’s vision to transform Indonesia into an industrial nation and promote domestic value addition.
Source:Yieh
