Indonesia's new project is important for the steel industry

Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, highlighted the significance of the Nusantara Capital City (IKN) construction projects in showcasing Indonesia's steel capabilities.

He stressed the importance of enhancing Indonesia's steel industry's international recognition, leveraging competitive labor costs compared to rising costs in Vietnam and China. Hartarto emphasized the opportunity for Indonesia to capitalize on its demographic dividend.

The minister expressed confidence that Indonesia's steel products would dominate the domestic market, citing projections from the Indonesian Iron and Steel Industry Association (IISIA) that Nusantara's development in East Kalimantan Province would require 9.5 million tons of steel.

Chairman of IISIA, Purwono Widodo, detailed the steel requirements for IKN's phases, noting collaborative efforts with the Ministry of Public Works and Public Housing to meet these demands.