Krakatau?s second hot strip mill to be completed in 2019
Monday, December 25 2017 - 02:33 AM WIB
IDX-listed steel maker PT Krakatau Steel Tbk said that its second hot strip mill is now projected to be completed in 2019, a delay from the initial target of second half of 2018.
The company said in recent presentation material that construction progress of the project has reached 35.93 percent as per September 2017.
The US$405.9 million mill will have an annual production capacity of 1.5 million tons of hot rolled coil.
Krakatau is expanding the production capacity of hot rolled coil (HRC) products through the construction of the second mill in Cilegon, Banten, near the raw material slab production facility of PT Krakatau Posco, to meet growing domestic demand. The company currently has production capacity of 3.9 million tons per year of HRC.
On July 4, 2014, Krakatau signed an agreement with contractor for the construction of the second mill, a consortium of SMS Siemag AG of Germany and PT Krakatau Engineering.
Editing by Reiner Simanjuntak