KRAS develops nickel downstreaming project with capacity of 1.2 million tonnes a year
Jakarta (ANTARA) – PT Krakatau Steel (Persero) Tbk, or Krakatau Steel Group (KRAS), is strengthening its role as an industrial platform for technology downstreaming through plans to develop advanced materials and a nickel downstreaming project to produce stainless steel slabs, with capacity of 1.2 million tonnes a year.
Krakatau Steel’s Director of Infrastructure and Operations, Sidik Darusulistyo, said the initiative was part of the company’s efforts to create greater economic value and strengthen the competitiveness of the national industry.
Sidik said in a statement in Jakarta on Thursday that the project was expected to require an investment of US$350 million, with projected annual revenue of more than US$2 billion.
“The development of this facility is intended to increase the added value of processed nickel products by further processing them into stainless steel,” he said during the Investor Showcase Session at the Danantara Technology Innovation Investment Forum (DTIIF) 2026 in Jakarta.
Krakatau Steel Corporate Secretary Rariya Budi Harta added that technology downstreaming required support from an industrial ecosystem so that innovation could be applied commercially and generate added value.
“Through the development of advanced materials and technology downstreaming, we are committed to supporting stronger supply chains, creating investment opportunities and increasing the competitiveness of the national industry,” he said.
The downstreaming project builds on Krakatau Steel’s commitment to developing a national advanced materials ecosystem. In July 2026, the company signed a memorandum of understanding on Collaboration on Advanced Materials Development with MIND ID, Defend ID and PT Perusahaan Mineral Nasional (Perminas) to strengthen the industry’s value chain, from upstream sectors to high-value-added manufacturing.
That same month, Krakatau Steel also signed a memorandum of understanding with the Steel Authority of India Limited (SAIL) on plans to develop stainless steel, during the Indian Prime Minister’s visit to Indonesia.
Through its participation in DTIIF 2026, the company continues to promote strategic collaboration to accelerate technology downstreaming and build an integrated, innovative national industry capable of competing globally, the company said.
Earlier, Danantara Indonesia Chief Executive Rosan Roeslani stressed at the opening of DTIIF 2026 the importance of long-term partnerships, mobilising global capital and expertise, and turning collaboration into concrete, sustainable initiatives.
He said DTIIF had three main ambitions: first, to strengthen partnerships that support Indonesia’s long-term economic and industrial transformation; second, to mobilise global capital and expertise to develop strategic projects into measurable investment opportunities; and third, to ensure that collaboration and dialogue lead to concrete, sustainable initiatives.