Millcon Steel has launched a joint venture with Artha Graha Group, its strategic partner in Indonesia, in a move aimed at expanding market in the fastest growing market in Southeast Asia.
Thirapong Khumruangrit, senior executive vice president of Millcon Steel, said the company had signed business partnerships agreement with Artha Graha Group, a leading industrial conglomerate based in Indonesia, for a joint-venture project in which each holds a 50 per cent stake.
The two companies have committed to start trading activity first in order to study the market.
Indonesia is fast growing and it is the largest market in Southeast Asia due to its large population base. Millcon has specialised in steel production and distribution so that the joint venture is expected to contribute to future success of the company’s business operations, said Thirapong.