Nippon Steel & Sumitomo Metal Corporation Group (NSSMC) recently held a groundbreaking ceremony for its automotive steel producing company, KNSS, a company with an annual capacity of 480,000 tons, in the industrial parks in Cilegon and Krakatau, West Java, Indonesia.
KNSS is a joint venture between Nippon Steel & Sumitomo Metal (NSSMC) and Indonesia’s Krakatau Steel, among which NSSMC holds an 80% share,Krakatau 20%.
The US$ 300 million plant is expected to be put into operations in mid-2017. Major production equipments include a production line of galvanizing and a processing line of annealing, from which cold rolled steel, hot-dip galvanized steel and galvanized annealing steel products will be delivered.
The company said that, inIndonesia, the domestic auto market’s demand for corrosion-resistant and high-strength steel sheets has been massively upsurging. Therefore, the investment in building KNSS is designed to meet the increasing demand for auto steel sheets inIndonesiaand around.
From: World Metals