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JAKARTA (rambuenergy.com) – Indonesia’s state owned steel producer PT Krakatau Steel Tbk (IDX:KRAS) will move ahead with its plan to build two power plants to support its plants power needs.
President Director of Krakatau Steel Sukandar told reporters Monday after the company held shareholders meeting that the power plants will consist of one coal fire steam boiler with capacity of 2×80 MW and one coal fired power plant with capacity of 1×150 MW.
The coal fire power plant will be located in Cilegon Mill, Banten province.
At the AGM, the shareholders appoint new President Commissioner Binsar H. Simanjuntak, replacing Achmad Sofjan Ruky.
Sukandar also said Krakatau Steel will soon start the construction of its hot strip mill (HSM) II, which is expected to be completed in 2019. The development of the HSM II plant will be financed by equity and loan from Commerze-bank AG amounting to US4260.05 million.
The company has set capital expenditure of US$105.6 million for 2016. (*)
