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Artas Energy Petrogas has announced plans to build a new seamless steel pipe manufacturing facility in Indonesia. The new plant will be located in Krakatau Steel Cilegon Banten’s industrial park. Construction is scheduled to commence in June 2012. The plant will have an initial manufacturing capacity of 200,000 tons per annum and is expected to require an investment of $500 million. In the initial stages, the plant output will go to fulfill domestic needs.
Artas Energy plans to cooperate with a number of companies, including PT Chevron Pasific Indonesia and Soconord Group S.A. for the construction of the plant. It has already signed a memorandum of understanding with Soconord for promotion and marketing.