KRAS Prepares 1x150MW Steam Power Plant in December 2017

Krakatau Steel (Persero), Tbk (KRAS IJ) is preparing the installation of the 1x150MW Steam Power Plant (PLTU) project in mid December 2017. This project is still in the pre-qualification phase, being discussed with the investment committee. The power plant will be used to generate electricity at a low cost as a part of the effort to ensure the supply of electricity for the steel production process. Krakatau Steel will allocate a down payment development worth IDR80bn to the contractor. On the other hand, the proceeds from company’s right issue at the end of 2016 worth IDR1.86trn, will be used for the construction of the steam power plant worth IDR635bn, and the Hot Strip Mill (HSM) #2 factory worth IDR1.22trn.

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