25
Jul
01:00
Krakatau seeks funding for new HRC project
Indonesia’s PT Krakatau Steel says it is seeking a $250 million loan from a German export credit agency to help fund its new 1.5 million tonne/year hot strip mill.
The new facility will be built in the Krakatau Industrial Estate Cilegon and will increase Krakatau’s production capacity of hrc to 3.9m t/y.
The value of the project is $428m, Kallanish understands. The company also plans to fund the investment using equity raised from its 2010…
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