Steel Exports Grow, Gunung Raja Paksi Sells USD 1 Million Steel To Electric Car Manufacturers In The United States

Photo: Doc. Ministry of Industry

JAKARTA - The development of the country's steel industry is increasingly stretched along with the increase in export sales. This indicates that Indonesian steel products are increasingly being recognized by other countries.

Last February, PT Krakatau Steel (Persero) Tbk exported 30.000 tons of hot-rolled coil (HRS) steel to Italy, which added to the market expansion of its products to Europe, Pakistan, and Malaysia.

This time, PT Gunung Raja Paksi Tbk or GRP is exporting structural steel to Casa Grande, Arizona-United States. Precisely to the electric car industry company, Lucid Motors.

The export of this product belonging to GRP is of the structural beam type, with a total of 700 MT and a value of 1 million US dollars.

GRP President Director Abednedju Giovano Warani Sangkaeng said this was a trial order delivery for the construction of the Lucid Motors factory. "Exports this time indicate that domestic steel products have succeeded in penetrating the export market to the US," Abednedju said in his statement, Monday, March 21.

Abednedju added that the steel shipment to Uncle Sam's country was the company's effort to achieve its 2022 export target of 70 million US dollars. In addition, to increase the export portion to 20 percent, compared to 2021 which is only 5 percent.

"In 2021 the export value achieved by the GRP will reach 44 million US dollars," Abednedju added.

For information, the release of GRP steel exports to the United States was directly attended by the Minister of Industry Agus Gumiwang in West Cikarang.

Minister of Industry Agus also appreciated the GRP's move that could bring in foreign exchange for the country and plans to continue to increase its export portion to 20 percent.

GRP was founded in 1970 and is one of the steel companies that has a strategic role in the development of the national steel industry.

This is shown by the realization of GRP investment until 2021 which will reach 488.71 million US dollars (around IDR 7 trillion) by producing steel from upstream to downstream.