Chinese steel giants partner to build 3-million-ton steel plant

Indonesia's Krakatau Steel Group plans to offer more than 500 hectares of land in the Krakatau Industrial Zone in Jilgong, Banten province, in order to attract large-scale investment from China's Delong Steel Group, the world's 11th largest and China's 7th largest steel producer, and its Indonesian subsidiary, PT Dexin Steel Indonesia.With this partnership, Delong aims to boost its global presence by building a new steel plant in Indonesia.May Krakatau Steel delegation visitsDelonghi GroupOn June 3, Dexin Steel Indonesia and PT Dexin Steel Indonesia visited Krakatau Steel to inspect the site of the new plant in Chilgong Industrial Estate and to visit the existing port and steel plant facilities, etc. On June 5, the two sides held a business meeting in Jakarta to focus on the plan to build a 3 million ton integrated steel plant. The two sides held a business meeting in Jakarta on June 5, focusing on the plan to build an integrated steel plant with an annual production capacity of 3 million tons and further refining the details of the cooperation. The two parties hope to optimize the efficiency of Krakatau Steel's asset utilization through land resource integration and technical cooperation, and at the same time introduce Delong Steel's advanced technology and management experience; at the same time, promote the revival of Indonesia's national iron and steel industry, and turn Jilgong into an environmentally friendly steel industry center in Southeast Asia, which is in line with Krakatau Steel's "Green Steel The partnership will also promote the revitalization of Indonesia's national steel industry, making Chilgong the center of an environmentally friendly steel industry in Southeast Asia, in line with Krakatau Steel's "Green Steel" philosophy; and build a stronger ecosystem for the country's steel industry, enhancing the global competitiveness of Indonesia's steel industry and supporting the raw material needs of national strategic projects. The collaboration is expected to create thousands of local jobs, drive national economic growth, increase value-added industrial products, and enhance the trade balance.Krakatau Steel's Chief Executive Officer said he is looking forward to this global strategic partnership, citing the availability of land as substantial support and the transfer of technology to bring long-term value. Delong believes that Chilgong Industrial Zone, with its favorable location and excellent infrastructure, is an ideal site for its new hub and is currently assessing the feasibility of the project in depth. Both parties are in intensive negotiations and will further finalize the investment details in the future to push the project to the ground.