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The Confederation of Indonesian Trade Unions (KSPI) has partly attributed the production halt and planned shutdown of steelmaker PT Krakatau Osaka Steel (KOS) to muted demand from the Nusantara capital city (IKN) project in East Kalimantan.
An employee finishes production of steel pipes in this undated photograph at the Krakatau Steel plant in Cilegon, Banten. (JP/-)
The Confederation of Indonesian Trade Unions (KSPI) has partly attributed the production halt and planned shutdown of steelmaker PT Krakatau Osaka Steel (KOS) to muted demand from the future capital Nusantara in East Kalimantan.KSPI chairman Said Iqbal explained that the megaproject and toll road construction were the firm’s main market.
“The IKN [Nusantara Capital City] Authority and toll road projects have slowed down and often stalled, causing steel demand to decline,” he said on Thursday, as quoted by Kompas.com.
