JAKARTA (Yosefardi) – State steel producer PT Krakatau Steel Tbk (KRAS) allocates capital expenditure (capex) of US$275-350 million for 2015, equal to this year of expected US$320-350 million.
The company allocates US$275 million capex for funding the existing projects (multiyears) including blast furnace based in Krakatau Industrial Estate in Cilegon, Banten.
While US$80 million capex will be used to fund new power plant projects with capacity of 2×80 megawatts (MW) and port development in Cilegon.
KRAS is approaching Euler Hermes, a Germany-based financial firm, to get loan facility of US$250 million.
KRAS booked net sales of US$1.36 billion in first nine months of 2014, declined 13.4% from US$1.57 billion in the same period of 2013. Last year, it booked net sales of US$.08 billion.