KS reaffirms new steel mill to be completed end 2013
Tuesday, October 1 2013 - 04:30 AM WIB
By Romel S. Gurky
IDX-listed steel maker PT Krakatau Steel Tbk (KS) said that the construction of a steel plant jointly owned with South Korea?s POSCO is on track to be completed and inaugurated by the end of this year.
In a presentation material on Monday, the company said that about 94.6 percent of the targeted works have been completed per end of August 2013.
The US$2.66 billion integrated steel mill, which has an annual production capacity of 3 million tons, will produce 1.5 million tons of steel slab, and 1.5 million tons of steel plate per year.
Krakatau owns 30 percent stake in the project, while POSCO held the controlling 70 percent stake.
Editing by Reiner Simanjuntak