Despite huge challenges due to global oversupply, stated-owned steel producer Krakatau Steel and joint venture firm Krakatau Posco aim to continue increasing steel production by completing the Cilegon steel cluster to fulfill domestic demand.  The 10 million ton-capacity steel industry cluster in Cilegon, which will take investment of between US$3.5 billion and $4.5 billion, is estimated to be completed before 2025. This year, both companies will focus on the completion of Hot Strip Mill 2 that will cost $515 million.  “We expect Hot Strip Mill 2 to operate in the first half of 2019,” said Silmy Karim, Krakatau Steel’s president director, on the sidelines of the 4th government task force team meeting on national steel industry development in Jakarta. Hot Strip Mill 2, which will have a production capacity of 1.5 million tons per year, will be part of ...

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