JAKARTA. PT Waskita Toll Road (WTR) would transfer 55% of the shares of Cibitung-Cilincing toll road to PT Akses Pelabuhan Indonesia (API) through PT Cibitung Tanjung Priok Port Tollways (CTP) for IDR 2.49 trillion. After this divestment, API would then obtain 100% ownership in CTP.
Septiawan Andri Purwanto, President Director of Waskita Toll Road, claims that the funds gained from this divestment would be utilised to support business activities in the future. Before this stock transfer, Cibitung-Cilincing toll road is under PT CTP, whose Waskita Toll Road controls by 55% and API owns the remaining 45%.
According to Purwanto, toll divestment is a part of Waskita’s business as one of the biggest infrastructure developers in Indonesia. Furthermore, this divestment acts as a part of the company’s commitment to improving Waskita’s financial health and creating a sustainable business, as Purwanto explains in a written statement, quoted on Wednesday (21/7).
Along with this divestment, Waskita is also estimated to cut its debts through deconsolidation up to IDR 5 trillion. Thus far, Waskita has divested four out of the targeted divestment of nine toll roads in 2021. (AM/ZH)