JAKARTA. In the next few years, PT Gunung Raja Paksi Tbk (GGRP) will invest around Rp 10 trillion to improve the company's steel processing capability. The company will cooperate with China for operations and management.
Director of Gunung Raja Paksi, Alouisius Maseimilian, said that the investment value was estimated at Rp 9.74 trillion.
"This is just a master plan that will be worked on with partners from China. It looks like that it will be signed next month," Alouisius said at the Indonesia Stock Exchange Building, Jakarta on Thursday (19/09/2019).
He explained that the company plans to develop its capability to produce several types of processed steel, including Corrugated Steel Plate (CSP), light and medium section mill and IRW piping.
In terms of performance this year, Alouisius estimates that the company's steel sales volume will grow by 3.3% to 1.25 million tons. With a predicted steel price of US$ 724 per ton, revenue estimates reaching US$ 906.64 million. At least 96% of the company's sales will be made in the domestic market. (AM/AR)