Krakatau Steel: Total Steel Sales In Indonesia May Grow 6%-7% In 2012

Dow Jones, Jakarta - 20/10/20011

Steel sales in Indonesia may rise 6%-7% next year from an estimated 9 million metric tons this year, Fazwar Bujang, chief executive of Krakatau Steel (KRAS.JK), told Dow Jones Newswires Thursday.

"We see sales remaining on a steady growth path, even with the risk of global slowdown. Sales will continue to grow as long as infrastructure projects in Indonesia continue," Bujang said.

Krakatau Steel aims to have a market share of 52% of overall sales next year, compared with this year's 50%, Bujang said. For this, the company will likely set aside around IDR10 trillion ($1.1 billion) for capital expenditure.