Indonesia president launches new 1.5 million tonnes steel plant

JAKARTA: Indonesia's President Joko Widodo has inaugurated a new steel plant with 1.5 million tonnes annual output capacity expected to help reduce imports, the cabinet secretary said in a statement on Tuesday.

The plant, owned by state-controlled PT Krakatau Steel, produces hot rolled coil and its capacity will be expanded up to 4 million tonnes per year, Jokowi, as the president is known, said in the statement.

"With the operation of this plant, we will be able to fulfil domestic steel needs, so there will be no more imports. That's what we are hoping for," the president said.