PT Krakatau Steel (Persero) Tbk increased its capital participation amounting to Rp798,427 billion in PT Krakatau Tirta Industri (KTI).

"The capital participation is carried out in the form of land with an area of 2,765,437 square meters or a value of Rp798,427 billion," said KS Corporate Secretary Pria Utama in the company's statement of disclosure submitted to the Indonesia Stock Exchange on Wednesday (31/3).

The purpose of this transaction is to improve the capital of PT KTI to obtain funding sources that it will use to increase production capacity through the construction of a seawater water treatment plant which will improve the company's performance in a consolidated manner.

KTI is a business entity with a share ownership percentage of 99.99%. KTI provides clean water, demin water, and wastewater treatment services.