Business Update: Krakatau Steel-Posco Investment Deal, 3 Kg LPG Stock in Solo

TEMPO.CO, Jakarta – Latest news until Thursday afternoon, 28 July 2022 starting with PT Krakatau Steel (Persero) Tbk and POSCO Holdings – a steel company from South Korea signed an investment cooperation of US$ 3.5 billion or around Rp 52.2 trillion (assuming an exchange rate of Rp 14,918 per US dollar).

Then information about the Airline Lion Air and Batik Air announced that starting August 2, 2022, flight services and operational departures and arrivals for domestic flights at Soekarno-Hatta International Airport, Tangerang, will move.

In addition, news about PT Pertamina Patra Niaga adds stock the elp 3 kilograms for the City of Solo as many as 14,600 tubes, to ensure the availability of supplies in the City of Solo during the period from July 25 to August 6, 2022. The following is a summary of the three news:

1. Krakatau Steel and Posco Agree to Investment of IDR 52 Trillion, This is Jokowi’s Promise

President Joko Widodo or Jokowi witnessed the signing of a memorandum of understanding on investment cooperation between the Ministry of Investment and PT Krakatau Steel (Persero) Tbk and POSCO Holdings. The total investment plan reaches US$ 3.5 billion or around Rp 52.2 trillion (assuming an exchange rate of Rp 14,918 per US dollar).

Investment cooperation was signed during Jokowi’s meeting with a number of CEOs of Korean companies, including Posco CEO Kim Hag-dong. At that time, Jokowi made a number of promises to investors, one of which was not to hesitate to convey problems in the field to ministers or even to himself directly.

Jokowi admitted that until now he had never listened to the serious complaints that occurred in the field from investors. But if there are problems, he invites the investors to submit them to the Investment Minister Bahlil Lahadalia or to the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan.

Read the full news here.

–