Grasping Roots of Krakatau Steel (KRAS) Head vs. Parliament Conflict over Stalled Projects

Krakatau Steel (KRAS)-suspended blast furnace smelter was designed in 2008 and has been under construction since 2011. Despite spending a budget of more than Rp 12 trillion, the company only recognizes it as an asset with 6.7 trillion in value. Meanwhile, Meratus Jaya Iron & Steel has been discontinued since 2015.

Bisnis.com, JAKARTA – PT Krakatau Steel Tbk. (KRAS) President Director Silmy Karim, and the House of Representatives' Energy Commission probably both have good intentions to fix the stalled legacy projects of the state-owned steel producer.

However, the way the two of them express their determination is conflicting with each other, with no middle ground seen on the horizon, as seen in the Hearing Meeting (RDP) on Monday (2/14/2022).

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