Indonesia-based steelmaker PT Krakatau Steel has announced that it has signed a memorandum of understanding (MoU) with Chinese steelmaker Baowu Group to build a new blast furnace for Krakatau’s plant.
With the new blast furnace, the company will produce billets and sections and bars from billets, enabling it to substitute long steel products, which to date have been supplied through imports.
“With the experience, resources, technology and supply chain access owned by Baowu Group, the Krakatau Steel Blast Furnace plant can operate with good performance and at competitive costs,” Silmy Karim, president director of Krakatau Steel, said.