Indosteel eyes garment export

Indosteel eyes garment export

JAKARTA (JP): Publicly listed Indosteel will establish an
export-oriented garment factory in Purwakarta, West Java, with
investment of US$20 million, of which $7 million will be equity
financing, the company said here on Thursday.

Indosteel announced that the garment unit would be designed
with an annual capacity of 22 million garments consisting of
high-quality trousers, jackets, T-shirts and sweatshirts for
export to the United States, Europe and the Middle East.

It said Indosteel would soon increase its paid-up capital from
Rp 25 billion last year to Rp 75 billion ($10.5 million) to
support the business diversification.

The factory is slated to start production later this year.