Posco to start Indonesia steel project in November

South Korea’s Posco said today it will start building the Indonesia steel project under the joint venture with PT Krakatau Steel in the coming November.

It is said that the new steel project to be built in Cilegon, West Java will have an annual capacity of 3 million tons, and the project is to be finished in 2013.

Posco expects to meet strong demand in Southeast Asian market, where the annual steel consumption amount to over 30 million tons.