Bakrie will decide on steel plant in September<\/p>\n
TOKYO (Reuter): PT Bakrie & Brothers president Tanri Abeng
\nsaid yesterday that he expected to finalize a possible Indonesian
\nsteel plant project, likely to involve British Steel Plc, by
\nSeptember.<\/p>\n
\"I think we have to make some decision later, I would say
\ntowards the end of the third quarter. By September we should make
\na decision,\" he told Reuters.<\/p>\n
Bakrie said earlier this month that the company was holding
\ntalks with possible venture partners, including British Steel, to
\nbuild a steel plant in Lampung, South Sumatra.<\/p>\n
Asked if British Steel will definitely be a partner in the
\nproject, Abeng said: \"As far as British Steel and Bakrie, it's
\npretty much a sure relationship.\"<\/p>\n
Abeng, who is in Tokyo to attend a conference, said the
\ncompany was still evaluating or refining the feasibility study.<\/p>\n
He also said it was still evaluating the site, whether it will
\nbe in Lampung, or in the Cilegon area. Assurances about
\nelectricity were needed for the Lampung site, he said.<\/p>\n
Abeng added that British Steel and Bakrie intended to invite
\nother partners as well, mentioning Japan's Kawasaki Steel Corp
\nand Indonesian conglomerate the Lippo Group.<\/p>\n
\"What we may do is combine forces because we don't want to
\nhave excess capacity.\" he said.<\/p>\n
\"If you are too greedy, you can have problems. We prefer to be
\nmore accommodative and develop alliances rather than
\ncompetition,\" he added.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-will-decide-on-steel-plant-in-september-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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