PT Agis Resources, through its subsidiary PT Agis Tbk, will finalize its steel mills or steel smelting plant construction and start its operational in 2015.
The smelter was built on a land area of 10 hectares in Central Java Provincial Capital of Semarang will have a capacity of around 300,000 MT annually. Although refused to mention the total investment, however, the Company's CEO Steven Kesuma hoped all licensing plant can be completed in the first quarter this I/2013.
"If the outcomes are good, we will be possible to expand, invest for the smelter in other locations, for example, at a location that closer to the raw material iron ore mine it, such as in Central Kalimantan, this time we are also in talks with landowners there, "said Steven last week.
As reported earlier, Agis Tbk is holding hands with China-based Fujian Xinjifu Enterprise with share of ownership at 51% and 49%, respectively.
The decision to expand to the steel processing plant is the Company's strategy to face the tough competition in the retail electronics business. Other than developing a smelter, Agis Resources has also acquired at least two gold mines in West Sumatra. (10/dpr)