Krakatau hopes to complete blast furnace plant in Q4

By Ruli Setiawan

IDX-listed steel maker PT Krakatau Steel Tbk said that construction of a blast furnace plant in Cilegon, Banten, is expected to be completed in the fourth quarter (Q4) of this year.

?As of March 31, 2016, the company's management estimates that the percentage of completion of blast furnace plant in financial terms is 74 percent,? Krakatau said in a recent statement.

The company said that the blast furnace complex consists of blast furnace plant, sintering plant, coke oven plant, pig iron caster, stockyard and material/hot metal handling to produce 1,200,000 metric tons (unaudited) per year of hot metal and pig iron.

On November 15, 2011, the company signed a construction contract for the blast furnace plant with a consortium of Capital Engineering and Research Incorporation Limited.

Editing by Reiner Simanjuntak