Jakarta – PT Krakatau Steel Tbk (KRAS) will reactivate the Blast Furnace Complex after appointing Baowu Group Zhongnan Co. Ltd. as a strategic partner in the operation of the Blast Furnace facility, which has not been operated for several years.

"Baowu Group Zhongnan Co. Ltd. was chosen from three companies interested in reactivating and Krakatau Steel's Blast Furnace Complex after going through various stages of beauty contest selection conducted with a well-known independent consultant," said Krakatau Steel President Director Silmy Karim on Thursday (9/29).

Baowu Group is a Chinese state-owned steel company that is the largest in the world, with a total production capacity of 120 million tons per year in 2021 (World Steel Association, 2021).

According to Silmy, Zhongnan Co. Ltd., with the support of the Baowu Group as a well-known company, including funding capabilities, human resources, technology, and supply chain access, strengt