The Coordinating Ministry for the Economy reported significant growth in the country’s metal industry, surpassing other sectors, thanks to downstream processing of raw materials.
“The metal industry grew by 11-18 percent in the first quarter, far outpacing other sectors. Metal exports increased from 8.74 percent to 16.74 percent. This achievement is certainly due to downstream processing,” Coordinating Minister for the Economy, Airlangga Hartarto, told a media conference in Jakarta on Wednesday, July 10, 2024.
Airlangga highlighted the industry’s milestones, noting Indonesia’s success in exporting 130 wind turbines to New York, USA.
“These are the first wind turbines to be installed north of Long Island, 15 to 20 miles offshore, with a planned capacity of around 2.1 gigawatts. This is a breakthrough, as they are manufactured in Batam, Indonesia,” he said.
In addition to wind turbines, Indonesia has also been exporting steel structures to Sydney, Australia, and New Zealand.
“These are remarkable breakthroughs, and it shows that our steel is strong and recognized by many countries worldwide,” Airlangga said.
The minister cited that State-owned steel producer Krakatau Steel and South Korean steel manufacturer POSCO have developed a roadmap to increase steel production from 10 million tons to 20 million tons. The demand for steel is also expected to rise to around 18 to 19 million tons.
“Production usually needs to precede demand because if it does not, the gap will be filled by imports, which are less desirable,” Airlangga said.
This impressive growth and strategic planning underscore Indonesia’s strong position in the global metal industry and its commitment to increasing production and export capacity.
