Irvan K.Hakim, the president director of state-owned steel producer PT Krakatau Steel, said yesterday that the newly inaugurated integrated steel plant Krakatau-Posco will launch production in the beginning of 2014.
Krakatau-Posco, a joint venture between Krakatau Steel and South Korean steel POSCO, is going to produce 3 million tons of steel yearly, accounting for around 70-80 percent of Indonesia’s total steel production.
The demand for steel from the automotive sector would be increased to 20% from the current 7%.
Once the steel plant construction is fully completed, the market share can reach 60% and Krakatau Steel accounts for 42% of the domestic market.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67845&division=A9
