State-owned operator to sell two more toll roads

State-owned operator to sell two more toll roads


Jakarta — PT Waskita Toll Road, a subsidiary of state-owned construction firm PT Waskita Karya, plans to sell two more toll roads after selling three through a private equity scheme (RDPT) in April. The two assets on offer are the Bekasi-Cawang-Kampung Melayu (Becakayu) toll road in Greater Jakarta and the Kayu Agung-Palembang-Betung (Kapal Betung) toll road in Sumatra. Unlike the previous divestment, the two roads are to be sold through a one-on-one transactions. The company is eyeing Rp 3 trillion (US$209 million) from buyers it hopes to find within three month. “We aim to have serious buyers in  October, so that we can immediately process the deal,” said Waskita Karya president director Herwidiakto on Tuesday (10/07). Five companies, both private and state-owned enterprises, had expressed interest in buying the toll roads, he said, adding that one interested investor was from a European country. He said the sale earlier this year of the other three toll roads – Kanci-Pejagan, Pejagan-Pemalang and Pasuruan-Probolinggo, had given Waskita Toll Road Rp 5 trillion. Waskita Toll Road plans to expand its business by taking part in a tender organized by the Public Works and Housing Ministry’s Indonesia Toll Road Authority (BPJT) for the construction of two toll roads – Semarang-Demak and Jembatan Balikpapan-Penajam Paser Utama. “We are focusing on winning those two projects. We have no plans to take part in tenders for other toll road projects,” Herwidiakto added. The three projects are worth around Rp 15.3 trillion.