Acset Indonusa receives Rp 5.5 trillion payment for Jakarta-Cikampek II Elevated Toll Road
JAKARTA - PT Acset Indonusa Tbk (ACST) has received Rp 5.5 trillion in payment from PT Jasamarga Jalanlayang Cikampek (JJC) as of March 12, 2020 for the completion of the Jakarta-Cikampek II Elevated Toll Road (Japek II), which was done in a joint venture with PT Waskita Karya (Persero) Tbk (WSKT).
According to an official statement received by IDNFinancials.com, the amount is 95% of the overall value of the Japek II project. The remaining payment for the 100% progress of the project will be made by JJC in the next stage in accordance with the agreement between JJC and the ACST-WSKT joint venture.
“The payment will eliminate Acset’s funding cost of the Japek II project in the future. This will also improve Acset’s cash flow and working capital,” said ACST President Director Jeffrey G. Chandrawijaya, Tuesday (17/2).
The Japek II toll road was inaugurated by President Joko Widodo on December 12, 2019 and has been in operation since December 15, 2019. At 38 km, the toll road is the longest in Indonesia and was built to ease congestion on the Jakarta-Cikampek I Toll Road, which is the busiest toll road in Indonesia. (MS)