PT Glory Metal Indonesia (GMI), a stainless steel producer, has officially established its presence in the PT Indonesia Morowali Industrial Park (IMIP). The company, which boasts an annual production capacity of 1.2 million tons of stainless steel, is a joint venture between Tsingshan and Jindal Group, one of India's largest steel producers. PT GMI occupies an area of 150,000 square meters within the IMIP area, with a total investment of USD 180 million.
"This cooperation is expected to strengthen further, leading to increased investment and job creation in Indonesia, thereby accelerating regional economic growth and prosperity," said Xiang Guangda, Chairman of the Board of Directors of Tsingshan Holding Group, during the groundbreaking ceremony in early August.
Guangda emphasized that the project is set to commence production soon, aiming to reach full production capacity and even exceed it.
PT GMI will be equipped with two 150-ton Argon Oxygen Decarburization (AOD) furnaces, one 150-ton Ladle furnace, and one 1600 mm Continuous Casting Machine (CCM), adopting the advanced Rotary Kiln Electric Furnace (RKEF) + AOD technology. The ferronickel required for production will be supplied by nearby ferronickel plants within the IMIP area, and all materials will be delivered hot to achieve efficient heat energy recycling.
Meanwhile, Tarun Khulbe, President of Jindal Stainless Limited, stated that the groundbreaking ceremony for this stainless steel smelting plant marks a significant milestone in the cooperative relationship that has been built since 2019.
"This journey has been anything but ordinary. It is a story of trust, friendship, and mutual growth along the way," said Khulbe.
The groundbreaking ceremony for PT GMI was attended by several key company figures, including Irsan Widjaja, Director of Operations at PT IMIP; Xiang Guangda, Founder and Chairman of Tsingshan Holding Group; Xiang Binghe, Chairman of Eternal Tsingshan Group; and Mr. Wu, CEO of Eternal Tsingshan.
