Krakatau Steel seeking strategic alliance

The company`s president director, Daenulhay, at a press conference in Cilegon on Monday said Krakatau Steel would explore the possibility of developing a strategic alliance with four world companies and with domestic steel producers.

The four international companies it is considering are Essar International Ltd (India), Bao Steel, Ispat Ltd and Nanjing Iron Steel Co. Ltd, he said.

He said the alliance was expected to be realized next year before the company conducted an initial public offering in 2009.

"The alliance is also aimed at raising the corporate value before it is being privatized," he said.