29
Aug
05:58
Krakatau targets rights issuance to fund projects
Indonesia’s Krakatau Steel is planning an IDR 1.8 trillion ($140 million) share issuance to help it fund its 1.5 million tonne/year hot strip mill and a new power plant. Considering the company’s continuing struggle for profitability, however, most of those shares are likely to go straight to the state, Kallanish notes.
Krakatau’s new plant will lift hot rolled coil capacity to around 3.9m t/y and it hopes it will also boost its quali…
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