Posted on 17 Oct 2012
Southeast Asia's biggest steelmaker, Indonesia's PT Krakatau Steel, has completed construction of an iron smelter in South Kalimantan, the company told Reuters on Wedneday.
The facility, operated by PT Meratus Jaya Iron & Steel, a joint venture between PT Antam, and Krakatau , will produce up to 315,000 tonnes of sponge iron a year, Krakatau CEO Irvan Kamal Hakim said.
"We have invested 1.1 trillion rupiah ($114.76 million) to set up the new smelter, including infrastructure such as a power plant, roads and other facilities," Hakim said, adding that the venture would begin testing the plant in either October or November. ($1=9,585 Indonesian rupiah)
