Phnom Penh - Fortescue Future Industries has added another plank to its push into Asia by enlisting one of Indonesia’s largest private steelmakers on an ambitious decarbonisation strategy.
Fortescue chairman Andrew Forrest said FFI and Gunung Raja Paksi will immediately begin investigating how green hydrogen and green ammonia produced by FFI can be used in GRP’s steelmaking operations in future.Mr Forrest said FFI was in green steel discussions in Europe that could be on a larger scale than the GRP collaboration “but this is our biggest play in Asia”.
He said China would be watching the collaboration closely. “The Chinese steel industry is many times the scale of Indonesia and has significant pollution issues,” Mr Forrest said.
“If there is a way they can produce all the steel the country needs without destroying the local environment, that’s what they’ll do.”
The agreement with GRP was announced at the B20 in Bali, the business forum that precedes G20 meetings later in the week.
FFI attracted attention in Singapore earlier this year when it hired Allard Nooy to helm its South East Asia operations. Mr Nooy is well known for his time running InfraCo Asia, which funds early-stage sustainable infrastructure projects.
Indonesia and Australia, both major coal exporters, are the region’s two biggest emitters. The two countries also have the potential for large-scale and successful decarbonisation collaboration, Mr Forrest said. Financial Review - link - Emma Connors - link - more like this (Andrew Forrest) - link - more like this (Indonesia) - link
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