TheJakartaPost
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The state-owned steelmaking giant has forecast double-digit growth on expectations of a surge in demand from the national shipbuilding industry, in line with Danantara's push to build the sector toward a more circular model.
Impending state financing for state-owned Krakatau Steel is drawing attention to Indonesia's steel industry crisis, where low competitiveness and reliance on imports clash with the new government's push for self-sufficiency.
Steelmaker PT Krakatau Posco, in cooperation with state-owned PT Krakatau Steel (KRAS), is set to expand to the second phase of an integrated steel mill project in a bid to capture the Southeast Asian electric vehicle (EV) market.
