JAKARTA - Minister of Industry, Agus Gumiwang Kartasasmita, is said to have just inaugurated the cable factory PT LSAG Cable Indonesia in Karawang today.
In his statement, the Minister of Industry appreciated LSAG's strategy which is committed to using almost all domestic raw materials in the production process.
“What should be appreciated is that the Domestic Component Level (TKDN) of several cable products and their derivatives is very high. For example, bare cable conductors and low voltage cables have reached a TKDN value of 95 percent, which means they have exceeded the minimum TKDN", he said as reported by the official website, Wednesday, January 26.
According to the Minister of Industry, the TKDN value for telecommunication cables and special cables still needs to be increased. Therefore, the focus of development will be directed to the development of the main raw material industry, namely the optical core.
"Currently, there are 13 domestic industries engaged in the telecommunications cable sector with a production capacity of fiber optic cable reaching 240,000 km per year", he said.
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In the Minister of Industry's explanation, LSAG is a Foreign Investment (PMA) which is a joint venture between LS Cable & Systems, South Korea, and PT Artha Metal Sinergi Indonesia (a member of PT Artha Graha Network) which was established on August 20, 2018.
Just so you know, Artha Graha Network is a business entity affiliated with senior conglomerate Tomy Winata. Meanwhile, the value of recorded investment commitments is 75 million US dollars and is divided into three development phases.
"The construction of the PT LSAG Cable Indonesia cable factory is one of the realizations of six business-to-business investment commitments from Indonesia and South Korea which were carried out on September 10, 2018, in Seoul and attended by President Joko Widodo", he stressed.
The Minister of Industry hopes that the presence of LSAG can support the independence of the domestic industry, encourage import substitution, and create a positive multiplier effect on the regional and national economy.
"Hopefully all these development activities will run smoothly so that all projects can be realized and realized soon to become one of the national pride projects", he concluded.
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