13
Aug
01:00
Nippon, Krakatau in Indonesian autosheet tie-up
Japan’s Nippon Steel and Sumitomo Metal Corp (NSSMC) says it has signed a definitive agreement with Indonesian steelmaker Krakatau Steel to set up an automotive sheet plant in the Southeast Asian country. The pair will invest an estimated $300 million in the new venture, PT Krakatau Nippon Steel Sumikin (KNSS), which will be 80% owned by NSSMC.
The core of the new plant will be a 480,000 tonnes/year Galvanising, Annealing and Processing Line (GAPL) equ…
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Very good overview of the weekly steel market.
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