Indonesian government rejected proposals for tax holiday from PT Krakatau Nippon Steel Sumikin and PT Krakatau Osaka Steel, saying both companies failed to meet the criteria, the Investor Daily reported, quoting a senior official with Industry Minister Harris Munandar.
PT Krakatau Nippon Steel Sumikin is a joint venture between state-controlled PT Krakatau Steel Tbk and Japan's Nippon Steel & Sumitomo Metal Corp., while PT Krakatau Osaka Steel is JV of Krakatau Steel and Osaka Steel Co. Ltd..
Source: Daily Mail
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