Steel producer Gunawan Dianjaya Steel (GDST) allocates Rp120 billion capex for funding the construction of plate mill unit 2 with capacity of one million tons steel plate per year. GDST’s current operating plate mill (unit 1) has capacity of 400 million tons per year. The growing demand from infrastructure project in Indonesia and increase of global steel prices benefited local steel producers in having their positive earning growth. GDST booked sales of Rp304.3 billion in Q1 this year and targets to book Rp909 billion sales this whole year. It booked net profit of Rp20.7 billion in Q1, 20% higher than last year’s profit.
