IRON AND STEEL MAKING INDUSTRY
This group includes businesses in the manufacture of iron and steel in basic forms, such as iron ore pellets, sponge iron, pig iron and the manufacture of iron and steel in the form of rough steel such as steel ingots, steel billets, bloom steel and steel slabs. Including the manufacture of iron and alloy steel. These include furnace activities, steel converters, rolling and finishing mills; production of pig iron in basic forms such as blocks; mixed iron production; production of iron products directly reduced from iron ore and other hollow iron products; iron production from refining by electrolysis and other chemical processes; iron grain and iron powder production; production of steel ingots or other basic forms; remelting of remaining iron or steel ingots; and semi-finished steel production.
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Key requirements to set up a iron and steel making industry in Indonesia
The following requirements are based on the Indonesian business classification code 24101
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 24101?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
24101 stands for iron and steel making industry
|Section||Manufacture of basic iron and steel|
|Division||Manufacture of basic metals|
|Indonesian class||Iron and steel making industry|
Activities similar to Iron and steel making industry
- Installation of industrial machinery and equipment
- Other repair transportation equipment, not motor vehicles
- Repair of other equipment
- Aircraft reparation
- Other electrical equipment reparation
- Repair of ships, boats and floating buildings
- Reparasi lokomotif dan gerbong kereta
- Photographic and optical equipment reparation
- Electric motor reparations, generators and transformers
- Reparasi baterai dan akumulator listrik
- Machine repair for specific purposes
- Repair measures, test tools and navigation and controller equipment
What are the requirements to set up a iron and steel making industry in Indonesia?
- At least two shareholders
- Maximum of 100% of the shares can be held by foreign shareholders.
- Minimum paid up capital is Rp 2.500.000.000,00
- Paid-up capital will not be injected in the company during the registration process. Instead, the shareholders issue a statement letter that at least the amount of minimum paid-up capital will be injected to the company once the registration is completed.
- At least one director. At least one of the directors must be an Indonesian resident. The directors are in charge of the daily operations of the company.
- At least one commissioner. Commissioners are overseeing the work of directors on behalf of the shareholders.
- The same person cannot be both a director and a commissioner.
- There is no requirement for the director or commissioner to hold shares in the company.
- Registered address in a building with the correct building permit.
Example of typical shareholder table
|Name||Country of origin||Role||Shares||Capital contribution|
|Smith Industries Ltd.||Australia||7500||Rp1875000000|
The process of registering iron and steel making industry company in Indonesia
The exact process of registering a iron and steel making industry company depends on the location of your company's registered address.
The fastest way to register a company in Indonesia is in South Jakarta (Jakarta Selatan), using Emerhub's registered address. This cuts down the registration time to five working days.
In Bali, the typical registration time is 3-4 weeks. Elsewhere in Indonesia the registration times vary between 2-6 weeks.