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PT Krakatau Steel and POSCO to invest $3.5 billion in JV

2022-07-28

Jul. 28, 2022 - Indonesia-based steelmaker PT Krakatau Steel and South Korean steel producer Pohang Iron and Steel Co. (POSCO) will invest $3.5 billion in their Indonesian joint venture Krakatau POSCO, according to a report by local media.


The investment, which will start next year, will expand the joint venture’s annual production capacity to 10 million mt from the current three million mt, while the expansion will include the production of steel for the automotive sector to be used in the manufacturing of electric vehicles.

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