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PT Krakatau Steel delays construction of Hot Strip Mill-The 17th China£¨Guangzhou£©Int¡¯l Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
12/30/2015 Sheetmetal machinery expo |
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Jakarta Globe reported that state controlled steel maker Krakatau Steel has postponed the construction of its USD 405.9 million hot strip mill until January next year, after its initial plans to start building before the year''s end
Mr Sukandar, president director of Krakatau Steel, said the company would first place a deposit for its USD 260 million local facility from Commerzbank AG in order to pay its contractor. He said "We can''t delay any further. The construction has to start by mid-January.¡±
Once construction starts in January, the plant is projected to begin operations within the first half of 2018
The hot strip mill plant will manufacture up to 1.5 million tons per year, lifting total production at Krakatau Steel to 3.9 million tons per year from the current 2.4 million tons per year.
It will be built by a consortium of German''s SMS Siemag and subsidiary Krakatau Engineering on 48 hectares of land at the Krakatau Industrial Estate Cilegon in Banten.
-The
17th China£¨Guangzhou£©Int¡¯l
Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
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