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Govt proposes Rp24t injection to save toll road projects of ailing SOEs
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Workers of PT Waskita Sriwijaya, a subsidiary of state-owned construction firm Waskita Karya, pave a section of the Trans-Sumatra toll road on April 3, 2023, in Ogan Komering Ilir regency, South Sumatra. (Antara/Nova Wahyudi)
T
he government has proposed state capital injections (PMN) of Rp 24.6 trillion (US$1.59 billion) to continue work on toll road projects handled by debt-laden state-owned enterprises (SOEs).
Speaking in front of House Commission XI, which oversees financial affairs, Finance Minister Sri Mulyani Indrawati suggested that the injections be disbursed in the first quarter of next year given the importance of the continuation of some toll road projects that are included in the list of national strategic projects (PSN).
“The timing of this [disbursement] for PSN decides the health of these SOEs,” said Sri Mulyani on Tuesday.
PT Hutama Karya has taken over several toll road projects from fellow SOE PT Waskita Karya to reduce burden on the latter amid financial distress.
The projects listed by Sri Mulyani included phase one of the Trans-Sumatra Toll Road as well as the Bogor-Ciawi-Sukabumi (Bocimi) and Kayu Agung-Palembang-Betung toll roads.
According to the proposal, Hutama Karya would receive Rp 18.6 trillion to fund those three projects, while WIKA would receive Rp 6 trillion for its PSN, including toll roads.
WIKA is handling 23 PSN as of the first half of this year. Sri Mulyani did not specify which of those projects the Rp 6 trillion in PMN was intended for.
