JAKARTA – PT Krakatau Steel (Persero) Tbk (KRAS) will complete the payment for Tranche B facility this year. The fund source originates from the divestment of both subsidiaries worth IDR 3.24 trillion.

Purwono Widodo, President Director of Krakatau Steel, claimed that the company had completed the share sale and purchase agreement with PT Chandra Asri Tbk (TPIA) yesterday (27/2). “After the shares sale and purchase agreement had been signed, the entire transaction will be transferred to pay Tranche B facility,” he said in the information disclosure quoted today (28/2).

PT Krakatau Sarana Infrastruktur, KRAS’s subsidiary, had sold off 70% of PT Krakatau Daya Listrik (KDL) and 49% of PT Krakatau Tirta Industri (KTI).

KRAS has reportedly started to install the payment for Trance B facility worth USD 524 million since January 2023. (LK/ZH)