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President Jokowi is optimistic that the country will eventually be able to produce electric vehicles (EV) within the next two or three years.
Krakatau Steel and Pohang Iron and Steel Company-or Posco-from South Korea will realize US$3.7 billion worth of new investments next year.
Krakatau Steel will supply oxygen for the medical facilities in Banten and Jakarta, following a surge in Covid-19 cases.
Krakatau Steel boss Silmy Karim said the company is targeting a 20.77 percent export volume growth in 2021 to 155 kilotons.
Long saddled with huge liabilities, the state-owned steel producer has restructured its mountain of debt. This is a lesson for other SOEs.
Anti-terrorist special forces Densus 88 arrested one alleged terrorist who is also an employee of state-owned steel producer Krakatau Steel.
Thousands of workers of several companies under Krakatau Steel (IDX: KRAS) staged a rally in front of the company's IT building in Cilegon, July 2.
Krakatau Steel planned to restructure its corporate organization and a number of subsidiaries for the next three months.
Corruption Eradication Commission (KPK) has officially named Krakatau Steel technology and production director Wisnu Kuncoro as a suspect of bribery.
State-owned steel producer PT Krakatau Steel recorded a deficit of US$37 million up to the third quarter of 2018.
The project is targeted for completion in September 2017.
The government is planning a sunset review on the anti-dumping duty imposed on Malaysian and South Korean hot rolled coil (HRC) steel.
President director says the loss was caused by declining steel prices, a weak rupiah and the losses recorded by subsidiary Krakatau Posco.
Steel giant PT Krakatau Steel posted a year-on-year loss of US$59 million in September 2014.
Krakatau Steel sent the metal sheets to fulfill local needs and stabilize the price of sheet metal in Lombok.
The hefty U.S. steel import tariffs would eventually cause China to switch its focus on the Asian markets.
Krakatau Steel expects a 40 percent increase in sales volume in 2018, which would amount to 2.8 million tons of steel production.