Krakatau, Natsteel, Marubeni sign JV agreement
Friday, May 31 2013 - 02:36 AM WIB
By Romel S. Gurky
State-owned steel company PT Krakatau Steel through its subsidiary PT Krakatau Wajatama signed on Wednesday an agreement with Natsteel Asia Pte Ltd, and PT Marubeni Itochu Steel Indonesia to set up a joint venture company.
The new company, called PT Krakatau Natsteel Construction Solution will produce downstream steel products and services with a production capacity of 70,000 tons per year, Krakatau said in a statement on Wednesday.
Krakatau and Natsteel, each owns 45 percent stake in the venture, while the remaining 10 percent is held by Marubeni Itochu Steel.
Editing by Reiner Simanjuntak