ASIATODAY.ID, JAKARTA – Steel producer issuer in Indonesia, PT Gunung Raja Paksi Tbk. (GGRP) exports 1,500 metric tons of structural steel worth $2 million in early 2024.
GGRP President Director Fedaus said the product exports were carried out to support the construction of the Yukon Bridge project in Canada.
“With Weather Resistance Grade, this product contains added nickel for corrosion resistance, making it an ideal choice for bridge construction in extreme weather,” said Fedaus in his official statement, Monday, January 15 2024.
In September 2020, GGRP also made its first export of structural steel to Vancouver, Canada, totaling 4,600 tons with a value of $4.7 million, at which time the Covid-19 pandemic crisis was occurring. Meanwhile, during 2023 GGRP has recorded export achievements of $25 billion. In 2022, GGRP also exported $1 million worth of 700 metric tons of steel to Arizona, United States. This achievement is a step to strengthen Indonesia’s position in the global market.
This export also shows that the quality of steel products in Indonesia has been recognized on the world stage so that it can penetrate the international market.
“Our commitment is not only to improving the quality of steel products, but also to our role in supporting infrastructure development on an international scale,” he said.
According to Fedaus, GGRP’s contribution to strengthening the iron and steel industry in Indonesia is not only about export value, but is also related to creating a positive impact on national economic growth.
“The company is committed to continuing to innovate, maintaining high quality standards, and playing an important role in shaping Indonesia’s positive image in the industrial world,” he said.
This export marks the strength of the basic metals industry to continue expanding amidst the global economic slowdown.
Based on data from the Central Statistics Agency, exports of iron and steel experienced a decline of 1.58% (year-on-year/yoy), but increased 0.10% in December 2023.
Expert Staff for Business Climate and Investment at the Ministry of Industry, Doddy Rahadi, said that the steel industry sector has very high competitiveness compared to other countries, so that it can meet the needs of domestic and global markets.
“Moreover, the base metal industry is known as the mother of industry, which has played an important role in spurring national economic growth,” said Doddy.
The Ministry of Industry noted that in the third quarter of 2023, the basic metal industry grew double digits by 10.86% (yoy). This achievement far exceeds national economic growth of 4.94% and the performance of the non-oil and gas processing industry which grew at 5.02%.
“The growth of the non-oil and gas processing industry, especially the base metal sector, is supported by high demand, where the positive performance of the base metal industry sector is supported by increased market demand, especially exports,” he explained. (AT Network)
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