Krakatau to supply 50,000 tpa of cold rolled steel to Sunrise

IDX-listed steel maker PT Krakatau Steel has agreed to supply 50,000 tons per annum of cold rolled steel to PT Sunrise Steel to cut import, Bisnis Indonesia reported on Thursday.

The paper quoted Sunrise President Director Henry Setiawan as saying that the two companies had signed a MoU for the supply of the cold rolled steel product, a key raw material in the production of light steel products.

Sunrise has been getting about 25,000 tons per year of cold rolled steel product from Krakatau, with the remaining requirement from other countries. The expected additional supply from Krakatau will increase the local content ratio in the Sunrise product, Henry said. (*)