PT Krakatau Steel has signed a memorandum of understanding (MoU) with India’s Steel Authority of India Ltd. (SAIL) to explore the establishment of a joint venture for the production of stainless steel slabs in Indonesia.
Under the agreement, the two companies will jointly assess the technical and commercial feasibility of the proposed project, including production capacity, investment requirements, technology selection and implementation plans.
The proposed venture aims to capitalize on Indonesia’s abundant nickel resources, a key raw material for stainless steel production, while supporting growing stainless steel demand in India and the ASEAN region.
According to the companies, the project is also expected to promote value addition to Indonesia’s mineral resources, strengthen bilateral industrial cooperation and support the development of regional stainless steel supply chains.