Through BRICS, Krakatau Steel Pockets IDR 67.6 Trillion Jumbo Project

Indonesia in 2025 officially became a full member of the BRICS economic bloc (Brazil, Russia, India, China, South Africa)/ Photo: IST

JAKARTA - PT Krakatau Steel (Persero) Tbk was involved in a jumbo project worth 30 billion yuan or 4.18 billion US dollars, equivalent to IDR 67.6 trillion (assuming an exchange rate of IDR 16,185 per US dollar).

Krakatau Steel's involvement in the jumbo project was marked by the signing of a memorandum of understanding or MoU with Xiamen ITC Group Co., Ltd. and PT Dexin Steel Indonesia at the BRICS Innovation Base Industry Project Matchmaking Meeting in Beijing, China on June 28, 2025.

For your information, Indonesia participated in the cooperation event for the BRICS member countries industry. Indonesia in 2025 will also officially become a full member of the BRICS economic bloc (Brazil, Russia, India, China, South Africa).

President Director of Krakatau Steel, Akbar Djohan, said Krakatau Steel as part of the Indonesian delegation collaborated with Xiamen ITG Group Co. Ltd. and PT Dexin Steel Indonesia in collaboration with steel products such as Slab, Hot Rolled Coil, as well as other potential collaborations.

In total there are 12 projects (which are offered) worth more than 30 billion yuan or 4.18 billion US dollars. Where Krakatau Steel became one of the companies from Indonesia that signed a memorandum of understanding at the event, "he said in an official statement, Sunday, July 6.

Akbar assesses these projects are projects with a large investment scale, wide field coverage and high level of cooperation. When all projects are realized, this will provide a major boost to the development of the BRICS innovation base.

The projects offered at the event cover various major fields, such as digital manufacturing, green and low-carbon development, health, and scientific research and innovation that have enormous market potential.

Furthermore, Akbar admitted that he was enthusiastic about welcoming the cooperation and collaboration established at this BRICS event. He said Krakatau Steel was very open to global-scale strategic cooperation both in the steel and non-state business. Cooperation with ITG can even expand Southeast Asian steel market share to the international market.

"Krakatau Steel continues to strive to improve performance, one of which is by capturing the potential for global-scale strategic cooperation," he said.