JAKARTA (TheInsiderStories) – State owned construction company, PT Wijaya Karya Tbk Persero (IDX:WIKA) will soon start the construction Serang-Panimbang toll road (83.7km) under Toll Road Business Management (BUJT).
WIKA hold the majority stake in BUJT with 80 per cent, followed by PTPP and Jababeka infrastructure with 15 per cent and 5 per cent, respectively. The toll road project is worth Rp5.3 trillion with target of completion by 2019.
However, WIKA will only develop 50.7km from Serang-Cileles, as the other 33km will be developed by government cooperation with availability payment scheme. As of January, land acquisition for the project has reached 20 per cent only.