India's SAIL and Indonesia's Krakatau Steel Plan Joint Stainless Steel Investment
The Steel Authority of India (SAIL) is set to collaborate with Indonesia’s state-owned steelmaker, Krakatau Steel, on a joint investment project worth up to $350 million. The plan involves establishing a stainless steel slab manufacturing plant in Indonesia, as reported by Reuters citing unnamed sources familiar with the development. The proposed facility aims to leverage both companies' strengths and expand their presence in the global steel market. SAIL is one of India’s largest state-owned steel producers, while Krakatau Steel has significant domestic production capacity but limited stainless steel capabilities. The partnership could enhance regional supply chain efficiency by producing slabs closer to downstream manufacturing hubs. This collaboration reflects growing Indo-Indonesian economic ties and strategic industrial cooperation in the metals sector.
