After releasing 3 toll roads, Waskita (WSKT) aims to sell 1 additional Trans Java section this year

Bisnis.comJAKARTA – SOE Transmitter PT Waskita Karya (Persero) Tbk. (WSKT) target strip a final section of toll motorways this year after the finalization of the sale of 3 toll motorways.

Waskita Karya Chairman Director Destiawan Soewardjono aims to be able to complete strategic cooperation or the fourth toll road divestment this year. The targeted toll roads that can be sold are toll roads trans Java Pemalang-Batang section.

“Our next goal strategic partnership Hopefully, the Pemalang-Batang Toll Road can be completed this year,” he explained in the settlement of the Trans Java Kanci-Pejagan and Pejagan-Pemalang Toll Roads Transaction, Tuesday (6/9/2022). .

The toll road section is operated by WST’s grandson, namely PT Pemalang Batang Tol Road (PBTR), which is a subsidiary of PT Waskita Toll Road (WTR).

The Pemalang–Batang Toll Road concession has a total length of 39.20 km and a concession period of 50 years since 2016. The company founded in 2006 was acquired by WTR in 2016.

WTR currently owns 60% of the shares of PBTR and the remaining 40% is owned by PT Sumber Mitra Jaya (SMJ). This section of toll road has been in operation since 2018.

WSKT has just finalized the transfer of ownership of two Trans Java toll roads, namely the Kanci-Pejagan and Pejagan-Pemalang toll roads which were purchased by the Indonesian Investment Authority (INA).

INA cooperates with 3 foreign investors, namely the Soverign Wealth Fund (SWF) ADIA of the United Arab Emirates, APG which is a Dutch pension fund and CDPQ which is a pension fund of the province of Quebec, Canada.

“This transaction is part of Waskita’s turnaround program in which we have completed 8 financial turnaround components. This has helped Waskita reduce the burden and re-establish itself as a healthy business, we thank INA and its partners for to have completed this process,” he added.

He explained that since 2014, through Waskita Toll Road, WSKT has managed to build toll roads over 1,000 km with 18 concession sections. In 2019, WSKT succeeded in carrying out strategic collaborations for the Solo-Ngawi and Ngawi-Kertasono toll highways.

In 2020, due to the pandemic, divestment by strategic cooperation was not carried out. Then, in 2021, 4 toll roads were successfully sold.

In the second quarter of 2022, WSKT succeeded in establishing a strategic partnership for the Cimanggis-Cibitung toll highway with PT Sarana Multi Infrastruktur (Persero).

SMI’s entry into PT Cimanggis Cibitung Tollways (CCT) as a Toll Road Business Entity (BUJT), the concessionaire of the Cimanggis-Cibitung Toll Road, is through an exchange mechanism shares of 55% of WTR’s stake in CCT.

WTR’s previous shareholding in CCT was 90% and after SMI’s entry, CCT’s ownership structure consisted of SMI 55%, WTR 35% and other 10% shareholders.

Destiawan added that the company has also strengthened its majority stake in its subsidiary PT Waskita Toll Road (WTR) by replacing SMI’s 4.5% stake in WTR with a conversion to equity ownership in CCT as part of the merger agreement. planned strategic cooperation. This is the second step in the conversion of SMI’s shares in WTR into BUJT held by WTR.

Previously, in June 2021, WTR and SMI entered into a strategic partnership on ownership of 20% of WTR shares in Semarang-Batang Tollway and 34.99% of shares in Cinere-Serpong Tollway. .

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