TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsWaskita Karya finalizes sale of six toll roads
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Traffic congestion chokes the Cipali toll road in Cirebon, West Java, on June 28 as travelers return to their regular domiciles three days after Idul Fitri.
(Antara/Dedhez Anggara)
S
tate-owned construction company PT Waskita Karya has said it is finalizing the sale of six of its toll roads as part of its effort to collect fresh money to finance its other toll road projects.
The six toll roads are Kanci-Pejagan, Pejagan-Pemalang, Pasuruan-Probolingo, Solo-Ngawi, Ngawi-Kertosono and Pemalang-Batang.
Previously, the company said it would sell nine toll roads.
“Next week, all processes are to be completed. You will find who the new shareholders [of the toll roads] are,” said Waskita finance director Tunggul Rajagukguk in Jakarta on Wednesday.
Tunggul declined to mention the amount of funds the company would obtain from the toll road sale.
He said five companies had expressed their serious intention to buy the toll roads, out of 12 companies that had shown some interest.
The companies expressing interest in the assets include publicly listed PT Astra International and state-owned toll road operator PT Jasa Marga.
Waskita is currently building 1,260 kilometers of toll roads worth Rp 110 trillion (US$8.24 billion). The government requires the projects to be finished by 2019.
The Trans-Java Toll Road runs from Merak Port in Banten to Banyuwangi in East Java and spans more than 1,000 kilometers. About half of the toll road is in operation. (bbn)
