Indonesian steelmaker giant Gunung Raja Paksi eyes a low-carbon future

[JAKARTA] FOUR years after going public on the Indonesian Stock Exchange, one of the largest private steel makers has steadied its ship and is now ready to invest heavily in green technologies that will help the company on its quest to become low-carbon.

Since its initial public offering in 2019, Gunung Raja Paksi (GRP) – a member of Gunung Steel Group – has undertaken some drastic steps to transform itself from a mainly family-run business to one that is managed by professionals.

These include injecting greater transparency into management decisions, moving more family members out of management positions and into executive roles, and hiring more external professionals to run the company.