Korea’s Posco is seeking to build a new steel plant in Indonesia, with investment of US$5 million

The company is in an effort to expand the market share in Southeast Asia. Posco has already started feasibility study of the project with state-owned steel firm PT Krakatau Steel. The new mill is designed to have annual output up to 2.6~3.1 million tons.

“Although steel prices are low, they think it"s the right time to invest because the steel market will recover.” the chairman of Indonesia"s state investment board said. Source: Yieh.com