JAKARTA – PT Krakatau Steel (Persero) Tbk (KRAS) invested additional capital on PT Krakatau Industrial Estate Cilegon (KIEC) with an inbreng scheme (assets handover) of IDR 9.68 trillion to its three subsidiaries. This restructuring would make KRAS’ subsidiaries structure more compact than before.
Pria Utama, the Corporate Secretary of Krakatau Steel, reveals this action through the information disclosure, quoted Monday (57). “The transaction value equals 153% of the company’s equity in December 2020,” Utama discloses.
With this restructuring process, KIEC would become the stockholder of KRAS’s subsidiaries, including PT Krakatau Bandar Samudera (KBS), PT Krakatau Daya Listrik (KDL), dan PT Krakatau Tirta Industri (KTI). The investment values for each subsidiary are IDR 3.85 trillion, IDR 3.74 trillion, and IDR 2.08 trillion, respectively.
This structure alteration is linked to the development of a steel industry cluster, generating 10 million tonnes per year, in Cilegon, Banten. Therefore, KRAS wishes to have competitive advantages through an integrated service of one-stop services solution. It would include port, property, and utility management services. (LK/ZH)