The state construction firm, PT Waskita Karya Tbk (IDX: WSKT) plans to divesting 11 toll roads with target funds up to Rp 31 trillion (US$$2.21 billion) in 2021 - Photo by the Company

JAKARTA (TheInsiderStories) – The state construction firm, PT Waskita Karya Tbk (IDX: WSKT) plans to divesting 11 toll roads with target funds up to Rp31 trillion (US$$2.20 billion) in 2021, said the management. The issuer take the decision due to the tight financial conditions as a result of bearing loan interest expenses.

The CEO, Destiawan Soewardjono, said on Monday (12/28), four sections of the toll roads are fully operational, five are partially operating, and two sections are still under construction. In details, Cimanggis – Cibitung toll road with a length of 25.4 kilometers (km) with potential values up to Rp4.5 trillion.

Cibitung – Cilincing toll road have a 34 km long with potential values Rp2 trillion. Ciawi – Sukabumi toll road along 54 km with potential values of Rp6 trillion. Depok – Antasari toll road with length of 27 km and have potential values of Rp1 trillion.

Cinere – Serpong toll road with 10.1 kilometers long and have potential values of Rp2 trillion). Kanci – Pejagan toll road with length 35 km and potential values of Rp1.5 trillion). Pejagan – Pemalang toll road along 57.5 kilometers with potential values of Rp3 trillion.

Then, Pemalang – Batang toll road, 39.2 kilometers long with potential values of Rp3 trillion. The 75-km Batang – Semarang toll road with potential values of Rp6 trillion. Pasuruan – Probolinggo toll road along 44 km with potential values of Rp1.5 trillion. And, the 38-km Krian – Legundi – Bunder toll road with potential values of Rp5.5 trillion.

Soewardjono emphasized that currently the company also involved in 44 strategic projects including connectivity, water resources, electricity, and building projects that have been determined by the government. Of the 44 projects, some have been completed and some are still in the construction stages.

Several National Strategic Projects (NSP) that have been completed by Waskita are the Jakarta – Cikampek elevated toll road, Kanci – Pejagan – Pemalang – Batang – Semarang toll road, the Solo – Ngawi – Kertosono toll road, the Salatiga -Kartasura toll road, terminal 3 of Soekarno – Hatta Airport, Ahmad Yani Airport, Kertajati Airport, and Gondang Dam.

In Sumatra, Waskita has completed the Medan – Kualanamu – Tebing Tinggi toll road, Kuala Tanjung Terminal, the Bakauheni – Terbanggi Besar toll road, the Terbanggi Besar – Kayu Agung toll road, and the South Sumatra light rapid transit projects.

In Kalimantan and Sulawesi, the projects has been done are Balikpapan – Samarinda toll road and the Manado – Bitung toll road. And in Nusa Tenggara, the Raknamo Dam.

US$1: Rp14,100

Written by Editorial Staff, Email: theinsiderstories@gmail.com