Indonesia's national construction projects drive local steel industry development

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Indonesia's steel industry has seen significant growth this year, with demand climbing in a number of sectors, including state construction projects and ancillary industry activities such as nickel.The Director of Metal Industry in the Ministry of Industry pointed out that steel and other industriesclosely relatedThe Government does not prohibit the importation of raw materials, butPrioritize support for indigenous industry participationTo ensure that the benefits of economic activities reach the domestic level.

He emphasized that a larger share would be given wherever there was value addition, but a larger share would have to be reserved for indigenous industries to retain major industrial activities in the country. So far this year, the basicMetal industry (including iron and steel) grew by 14.47% year-on-year, the highest among all industrial subsectors, with steel once again being thebackbone of the national economy. The growth was driven by other industries such as steel and nickelSupply chain linkageThe demand for steel is driven by an active nickel industry.

furthermoreSurge in market demandis also an important factor.Major Infrastructure Projects and the New Capital (IKN)constructSignificantly pushing up steel consumption. Government invests in IKN48.8 trillion rupiahObjectivesPolitical capital by 2028, which requires a lot of steel to support it. He wants the steel industry to continue to beThe mainstay of economic growthand to leverage its relationship with other industries.high degree of synergyand consolidate its role in the industrial systemcentralityThe

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