Indonesian steelmaker PT Krakatau Steel (Persero) Tbk has announced plans to develop a stainless steel slab production facility with an annual capacity of 1.2 million mt as part of its efforts to expand downstream nickel processing and strengthen Indonesia's advanced materials industry.
According to the company, the project involves an estimated investment of $350 million and is expected to generate annual revenues exceeding $2 billion. The proposed facility aims to increase the added value of Indonesia's nickel resources by processing them into stainless steel products, while supporting the development of the domestic industrial supply chain.
Integrated advanced materials production targeted
Krakatau Steel stated that the planned investment forms part of its broader strategy to develop an integrated advanced materials industry through cooperation with domestic and international partners. The company aims to expand downstream processing capabilities and strengthen industrial integration from raw materials to higher-value manufacturing.
Meanwhile, Danantara Indonesia CEO Rosan Roeslani highlighted the importance of attracting international investment and technological expertise to support strategic industrial projects. Krakatau Steel stated that it would continue pursuing strategic partnerships to expand downstream processing capabilities and strengthen the competitiveness of Indonesia's steel industry.
