Indonesia-based steel pipe trading company PT Inerco Global International and Indonesian pipe producer PT Artas Energi Petrogas have signed an agreement with a value of IDR 5 trillion ($324.4 million) to build Southeast Asia's first seamless pipe plant, according to media reports. The plant will be located at the Krakatau Steel Industry Complex Cilegon, Banten.
Hendrik Kawilarang Luntungan, CEO of PT Inerco Global International, noted that the country's oil and gas industry needs 500,000 mt of seamless steel pipes annually amid the efforts to raise domestic oil output. The new plant is expected to substitute the country's seamless pipe imports.
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