Jakarta (ANTARA) - Trade Minister Zulkifli Hasan released an export consignment of 30 thousand metric tons of hot rolled coil (HRC) to Italy for Marcegaglia Steel Carbon SPA from state-owned steel company PT Krakatau Steel in Cilegon, Banten, on Friday.

Nationally, the steel industry ranks third in terms of exports after coal and palm oil, he noted. Krakatau Steel has become one of the contributors to Indonesia's exports.

"We are grateful that the Indonesian company is able to increase the value of iron and steel exports. We were able to reach a surplus in exports amounting to Rp900 trillion, or the equivalent of US$54 billion," the minister said in a written statement received here on Friday.

Meanwhile, the president director of Krakatau Steel, Purwono Widodo, said the HRC exports to Italy added Rp315 billion or the equivalent of US$21.15 million to the country's foreign exchange coffers.

"With the addition of capacity, our total production can reach 5.6 million tons per year. We also continue to open opportunities for domestic demand of 30 percent for the export market, especially for the European region where Krakatau Steel has been recognized," he disclosed.

Krakatau Steel Group, one of the largest steel companies in Indonesia, recorded 393,503 tons in exports in 2022. As of April 2023, the company has exported 80,802,78 tons of steel to Italy, Portugal, Germany, Turkey, Greece, Spain, and Pakistan.

"This is proof that domestic steel products can compete well, even in developed countries in Europe. We will continue to improve the quality of our products to increase our products' absorption in both the domestic and foreign markets," he said.

Widodo expressed the hope that the government will continue to provide support related to increasing the utilization of the domestic steel industry.

“Hopefully, in the future, Krakatau Steel will always be able to provide quality steel products for industrial progress in Indonesia and to meet the world's demand," he said.

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Translator: Maria Cicilia G P, Resinta S
Editor: Azis Kurmala
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