JAKARTA (TheInsiderStories) – A subsidiary of PT Nusantara Infrastructure Tbk (IDX: META), PT Potum Mundi Infranusantara, plans to build clean water business and has obtained a senior term loan facility worth Rp95 billion (US$6.78 million) from PT Indonesia Infrastructure Finance, said the company yesterday. The loans has tenure 11 years.
According to the president director, Danni Hasan, some of the funds will uses to support the development of the Semarang industrial areas in Central Java and the residential and industrial areas at Bekasi Regency in West Java. Currently, Potum has operated three water treatment plants with a total capacity of 2,025 liters per second.
One project managed by its unit, PT Sarana Catur Tirta Kelola located in Serang, Banten. Then, PT Dain Celicani Cemerlang in Medan, North Sumatra. And, PT Tirta Kencana Cahaya Mandiri in Tangerang, Banten. The clean water then channeled through the local firm, Perusahaan Daerah Air Minum, to meet industrial and housing needs.
So far, the company has completed two of its projects, the Pettarani toll road in Makassar, South Sulawesi, and hydro power plant in North Sumatra. For 2021, the issuer has budgeted a capital expenditure more than Rp1.2 trillion (US$85.11 million). Part of the investment funds was the carry over from this year’ program worth of Rp431 billion.
Hasan said, the company has won the JORR Elevated Cikunir – Ulujami toll road tender and also participated in other project auctions like Hang Nadim airport projects in Batam, Riau. The construction of the airport is estimated to cost around Rp5.6 trillion.
The constructor also looking for the potential acquisitions. In the toll road sector, Nusantara Infrastructure through its business unit, PT Makassar Metro Network, has completed the construction of the Pettarani elevated toll road with along 4.3 kilometers and costs Rp2.2 trillion.
The developer also set up a joint venture company, PT Margautama Nusantara, with three Japanese firms, Japan Expressway International Co. Ltd., Japan Overseas Infrastructure Co. Ltd., and West Nippon Expressway Co. Ltd. The company has operates a total 34.47 kilometers (km) of toll roads, which connect to an airport, a seaport and business districts.
Nusantara Infrastructure’ portfolio covers toll roads, ports, water, energy and telecommunications sectors in which Philippines’ Metro Pacific Tollways operates, except for port operations. In Nov. 6, 2017, the unit of First Pacific, Salim’ Hong Kong-listed investment house, had acquired a 47.08 percent stake in the local firm for around $150 million.
Before acquired by the parent, in September 2017, Rajawali sold 21 percent of Nusantara Infrastructure for Rp864 billion to local investor Matahari Kapital Indonesia. On Nov. 3, 2019, Metro Pacific indirectly acquired 6.6 billion shares or equivalent to 43.3 per cent of Nusantara Infrastructure shares from Matahari Kapital.
Both parties has committed to allocate around $400 million to invest in Indonesia’ toll road infrastructure projects until 2019. Now, the shareholders of Nusantara Infrastructure are PT Metro Pacific Tollways Indonesia (74.65 percent), PT Indonesia Infrastructure Finance (10.00 percent), and public (15.35 percent).
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