Waskita bagging loan Rp4.73 trillion, government offers new toll road projects

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Photo by PUPR

JAKARTA (TheInsiderStories) – PT Waskita Karya Tbk (IDX: WSKT) through its subsidiary  PT Waskita Transjawa Toll Road (WTTR) bagging a syndicated loan of Rp 4.73 trillion for the construction of Pejagan-Pemalang toll roads project.

Munib Lusianto, Corporate Secretary WSKT said in a written statement, that the loan was obtained from several lenders such as PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Sarana Multi Infrastructure, PT BPD Jawa Tengah, Indonesia Export Financing Agency, PT Bank ICBC Indonesia, PT Bank Panin Tbk (IDX: PNBN), PT Bank CIMB Niaga Tbk (IDX: BNGA), PT Bank Artha Graha International and several regional banks.

In 2017, Waskita will focus on the expansion of the toll road business and spare the capital expenditure of Rp 30.7 trillion. A total of Rp 25 trillion, or 81.43 percent of total investment will be used to finance the toll road business run by Waskita Toll Road.

Beside use internal cash and bank loans, Waskita also plans to divest stake of PT Waskita Toll Road and issue bonds next year to finance the projects. Waskita also will auction 10 percent stake Waskita Toll Road

Currently, the company have hugged 16 toll road concessions with a total length of 767.29 kilometers (km). In 2017, Waskita targets will operate three toll roads, including roads Bekasi-Cawang-Kampung Melayu (Becakayu) Section IB and IC, Cimanggis -Cibitung motorway section I and section Kertosono Solo-Solo-Sragen.

Until the end of the year, Waskita could pocket the revenue of Rp 24.3 trillion and net profit of Rp 1.68 trillion.

Government offers new toll road projects

On Monday, Toll Road Agency (BUJT), the Toll Road Regulatory Agency (BPJT) with PT Jasa Marga Tbk (IDX: JSMR)  signed the concession agreement to build Elevated Highway Development Jakarta-Cikampek II at the Ministry of Public Works and Public Housing (PUPR). The project is projected need an investment of Rp 16 trillion.

“The signing of the concession agreement is expected to make Jakarta-Cikampek Toll II and also Krian-Legundi-Bunder-Manyar (KBLM) can be built without any delay groundbreaking groundbreaking,” Minister PUPR Hadimuljono Basuki said.

Elevated Toll Road Jakarta-Cikampek II designed along 36.4 kilometers. Basuki expect this highway could be a solution to parse the traffic density in the vicinity and improve the distribution that reduce logistics costs nationwide.

Construction of Jakarta Cikampek Toll Road Flyover II will consist of nine sections, namely Cikunir-Bekasi Barat (2.99 kilometers), Bekasi Bekasi West-East along the 3.63 kilometer-East Bekasi Tambun the 4.34 kilometers long, and Tambun- Cibitung 3.30 kilometers.

Then Cibitung-Cikarang 4.46 kilometer Main, Main-Cikarang Cikarang Barat along 2.72 kilometers, Cikarang Barat-Cibatu of 3.16 kilometers, Cibatu-East Cikarang with a length of 2.45 kilometers, and East Cikarang-Karawang Barat round 9 79 kilometers. Previously, PT Jasa Marga Jalanlayang Cikampek ensure that work will begin in the first quarter of 2017.

The plan, the elevated toll road can be completed within a period of 21 months and will be completed in 2019 with a concession period of 40 years.

While, The KLBM Toll concession owned by PT Waskita Bumi Wira, unit of Waskita Karya is designed along 38.29 kilometers with investment value of Rp 12.22 trillion.

Basuki adding, there will be toll roads can operate 2017. Segments are located on the Trans Java toll road network and Trans Sumatra.

For Trans Sumatra, Medan-Binjai toll road (two sections) along the 17 km, Palembang-Indralaya roads along the 22 km and some parts of the Bakauheni-Terbanggi of the 27 km long predicted to be in operation before Lebaran 2017.

“The toll road that could operate in 2017 that if in Sumatra, there Bakauheni until Terbanggi Great. Then the Medan-Binjai will we operate. And the Palembang-Indralaya also hopefully be able to operate,” he said.

As for the Trans Java, which can operate in 2017 is a segment Bawen-Salatiga along the 17.6 km which is a continuation of the previous section, namely Section I of Semarang-Ungaran section (11.3 km) and also some parts of the Solo-Ngawi (90.25 km).

“In Java, hopefully later Bawen-Salatiga can, Solo-Ngawi through Kertosono also we operated in 2017,” added Basuki.

Head of BPJT Herry Trisaputra Zuna added, most of the segments of which can operate before Lebaran 2017, while for the most part-Solo toll road Ngawi new possibilities to operate in October 2017.

The post Waskita bagging loan Rp4.73 trillion, government offers new toll road projects appeared first on The Insider Stories.

Source: The Insiderstories
Waskita bagging loan Rp4.73 trillion, government offers new toll road projects

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