It is difficult to continue blaming the government or external factors behind years of losses at state-owned steel producer PT Krakatau Steel (KRAS) Tbk. There are market issues related to the entry of imported products at ‘dumped prices’, but KRAS needs to improve its management. The delay in commercial operation of new blast furnace, for example, led to over-run budget of Rp3 trillion, more than 40% of its initial budget (Rp7 trillion).To subscribe please click here
