18
Oct
12:39
Krakatau Steel signs long steel project with Baowu
Indonesian state-owned steel producer Krakatau Steel and Chinese steel giant Baowu Group have signed a steel project investment agreement on Monday.
The agreement was signed by Krakatau Steel and Baowu subsidiary Zhongnan Steel at the China-Indonesia Business Forum held this week in Beijing.
Under the agreement, the two steel mills will invest $1.2 billion to develop 2 million tonnes/year of long steel production capacity, Kallanish notes. The companies will star…
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