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Nippon Steel & Sumitomo Metal Corporation and PT Krakatau Steel have entered into 'a definitive agreement' concerning the two companies' joint venture, PT Krakatau Nippon Steel Sumikin (KNSS) in Indonesia.
KNSS is to build a galvanising, annealing and processing line which is claimed to be equivalent to the state-of-the-art equipment currently in operation at NSSMC's steelworks and capable of producing high-grade, high-quality cold-rolled, hot-dip galvanised and 'galvannealed' steel sheets, including steel sheets for automotive outer panels and high strength steel.
The aim of the new plant is to meet the demands of Indonesia's growing automotive sector and its need for anti-corrosion and high strength steels.
No timeline details were announced.