Sango, KS plan to build steel plant
Friday, December 15 2017 - 03:53 AM WIB
Japan?s steel maker Sango Corporation will team up with Indonesia?s state-controlled steel maker PT Krakatau Steel Tbk (KS) to build a steel manufacturing plant in Cilegon, Banten Province, Investor Daily reported on Friday.
The paper said that the two companies are scheduled to sign an MoU on the planned project on Friday (today) at the Ministry of Industry.
Ministry Director of Metal Doddy Rahardi was quoted as saying that the steel plant will produce special steel products for the domestic automotive industry that would help cut down imports.
He said that the steel plant will have installed production capacity of 40,000-60,000 tons per year, with estimated investment of US$200 million-$300 million. (*)