JAKARTA – PT Tira Austenite Tbk (TIRA) has set its 2025 business expansion strategy by allocating capital expenditure (capex) of IDR 9.6 billion. This investment will be focused on strengthening its steel manufacturing sector and developing infrastructure in the industrial gas division.

Two divisions will receive capex allocations. First, the manufacturing division will get IDR 2.6 billion. This fund is intended to support TIRA’s transformation from a steel distributor to a producer of high-quality steel-based finished products.

Second, the industrial gas division will receive the largest allocation, between IDR 5-7 billion. This will be used for developing distribution infrastructure, including the purchase of new tanks and isotanks.

In addition to the capex, TIRA will also finance its expansion in 2025 using internal company funds. However, for the gas division's development, the company plans to leverage financing through leasing companies to expedite the realization of strategic projects.

“This expansion aims to increase the company’s competitiveness amidst the dynamics of the national steel and gas industries,” said Selo Winardi, President Director of TIRA, in a public presentation on Friday (14/2).

He added that this move is part of TIRA’s long-term strategy to strengthen its market position and improve its competitiveness in the national steel and industrial gas industries. (DK/ZH)