Profile PT. Krakatau Steel (Persero) Tbk.

KRAS

PT. Krakatau Steel (Persero) Tbk.

PT Krakatau Steel Tbk is the largest steel maker in Indonesia, headquartered in Cilegon, Banten. The factory is set on a 280-hectare plot in the western end of Banten and adjacent to the Sunda Strait, and where the Krakatoa volcano and island from which the company takes its name are located. It is a state-owned enterprise which is engaged in steel production. The company, which operates in Cilegon, Banten, was originally formed as a manifestation of the Trikora Steel Project, which was initiated by President Sukarno in 1960 to have a steel plant capable of supporting the development of an independent, high value-added national industry and influencing national economic development. When it was formed on May 20, 1962, the company, which was formerly called the Cilegon Steel Mill, was officially established in cooperation with a Soviet all-union foreign trade organization. However, the occurrence of severe political and economic turmoil, resulting in factory construction had stopped. It was only before entering the early 1970s, the factory unit resumed construction and officially operated on August 31, 1970 under the name Krakatau Steel.