JAKARTA - PT Steel Pipe Industry of Indonesia Tbk (ISSP) or Spindo is allocating capital expenditure (capex) of IDR 250 billion this year, as mentioned by Johanes W. Edward, Corporate Secretary & Investor Relations of Spindo in Public Expose Live 2024 of ISSP via Zoom, today (26/8).

According to Edward, said capex will be spent on completing the construction of Unit 7 warehouse, office building, and other infrastructure warehouses located in Gresik, East Java.

As is known, the management of Spindo will relocate steel pipe production in Unit 1-4 to Unit 7 warehouse.

In the first half (H1) of 2024, Spindo’s sales mostly came from domestic market, generating IDR 2.69 trillion, slipping from IDR 2.95 trillion seen in H1 2023. Meanwhile, export sales also slowed down to IDR 99.92 billion from IDR 140.03 billion.

In terms of products, in the domestic market, mechanical pipes brought in the highest sales of IDR 478.36 billion, followed by black pipes of IDR 467.40 billion, spiral pipes of IDR 462.82 billion, water pipes of IDR 371.43 billion, furniture pipes of IDR 352.48 billion, strips and plates of IDR 191.19 billion, stainless pipes of IDR 159.57 billion, poles of IDR 99.49 billion, API black pipes of IDR 98.35 billion, and other services of IDR 15.43 billion.

Then, export sales saw black pipes contributing IDR 87.01 billion, followed by water pipes of IDR 11 billion, other services of IDR 961 million, and spiral pipes of IDR 276 million. (LK/ZH)