Taiwanese stainless steelmakers plan to invest in Indonesia
In order to resist the stainless steel giants invested by China, the Taiwanese government also started to ask all of the top Taiwanese stainless steelmakers, such as Yusco, Walsin Lihwa, Fuxin, and Yuan Long Stainless Steel Corp., to integrate domestic stainless steel industry to increase the competitiveness.
The reason why Indonesia had been chosen was because of one the rich natural material in Indonesia, laterite nickel ore, which was also the key material for stainless steel.
To reduce the producing cost, the best way was to complete one-stop production from upstream to downstream, and that would push Taiwanese stainless steelmakers back to the market again.
The investment amount was expected to cross over NT$20 billion.
