INDUSTRY.co.id - Jakarta, Tata Steel, a steel producer from China, plans to invest in Indonesia to develop downstream steel products from wire rod.

The company plans to invest Sin $ 50-60 million or Rp527 billion-Rp 632 billion.

Tata Steel Vice President Sunil Bhaskaran said it was exploring investment as it sees a huge potential market in Indonesia for wire rod products.

According to Sunil, this is because Indonesia is a developing country and invests heavily in infrastructure.

"We feel Indonesia is a big potential market in Asean and we want to see how it can have representation here," Sunil said at the Ministry of Industry, Jakarta (23/4/2018).

Meanwhile, Minister of Industry of Airlangga Hartarto said Tata Steel is conducting a study related to investment opportunities in Indonesia.

"They survey the location, check the regulations," said Airlangga.

On the other hand, Task Force (Plt) Director General of Industrial Zoning Development (PPI) of the Ministry of Industry I Gusti Putu Suryawirawan said Tata Steel will make a study for a month. Tata Steel is interested in investing in Java, and the Ministry of Industry recommends areas outside West Java.

"The Minister suggested to be explored outside West Java such as Central Java and East Java," said Putu.

The Tata Steel plant is currently in several countries such as China, Thailand, Singapore, Vietnam, Malaysia, the Philippines and Australia.