Indonesia-based steelmaker PT Krakatau announced that the company president Susilo Bambang Yudhoyono has inaugurated PT Krakatau Posco on December 23, the joint venture between South Korean steel giant POSCO.
This integrated steel mill is 70 percent owned by POSCO and 30 percent owned by PT Krakatau. The steel mill's annual production capacity currently standing at 3 million mt will be increased to 6 million mt in the second phase, as the steel demand is expected to continue increasing.
Construction of the first phase of PT Krakatau POSCO plant cost $2.66 billion. The steel mill includes 300 mt blast furnace, basic oxygen furnace, continuous slab caster with a production capacity of 1.5 million mt per year, plate mill with a production capacity of 1.5 million mt per year, as well as other supporting facilities and infrastructure.
