Krakatau Steel to operate Distilled Coal Tar plant
Tuesday, April 23 2013 - 03:15 AM WIB
IDX-listed steel company PT Krakatau Steel Tbk reported this week that its subsidiary PT. Krakatau Industrial Estate Cilegon (PT KIEC), Dong-Suh Chemical Ind. Co. Ltd. (DSC) and Posco Chemtech (PC) on February 2013 have established PT Krakatau PosChem Dong-Suh Chemical (PT KPDC) that will operate a Distilled Coal Tar plant with a production capacity of approximately 55,000 tons per year.
The company said in its 2012 consolidated financial statement that the PT KIEC has the right to increase its ownership interest up to 45%. The construction of the plant in Cilegon, Banten, is expected to be completed in June 2013.
The percentages of ownership of PC, PT KIEC and DSC in the company are 55%, 30% and 15%, respectively.
Editing by Adianto P. Simamora