JORR W2 Toll was released to Astra Infra due to cash flow considerations
JAKARTA - Regional Owned Enterprise Development Agency (BP-BUMD) of DKI Jakarta stated that the release of Jakarta Ring Toll Road to Astra Infra was carried out by considering the cash flow of PT Jakarta Propertindo (Jakpro).
Riyadi, DKI Jakarta BP-BUMD Secretary, said the asset was released because there was a need to fund some assignments carried out by Jakpro. Not all assignments are financed by BUMD from the APBD, but from Jakpro's own treasury.
He denied that the sale of Jakpro's assets was due to the impact of pandemic situation to the state budget cashflow.
PT Jakarta Marga Jaya (JMJ), a subsidiary of Jakpro, released 35% of its ownership, of Jakarta Ring Road or JORR W2 Utara from Kebon Jeruk -Ulujami, to Astra Infrastruktur. (AM/VA)