JAKARTA - State-owned construction firm PT Hutama Karya (Persero) has received Rp 3.5 trillion in additional capital to improve its capital structure and resume the development of the Trans-Sumatra toll road project.
The additional capital was given in the form of state equity capital and is stipulated in Government Regulation No. 32/2020 on the Republic of Indonesia’s State Equity Capital to the Shares of PT Hutama Karya, signed by President Joko “Jokowi” Widodo on July 6, 2020.
“The additional state equity capital is sourced from the 2020 State Budget,” Mr Widodo wrote in the regulation.
In the regulation, Mr Widodo also said the state equity capital was given to improve Hutama Karya’s capital structure and improve its operational capacity to resume the Trans-Sumatra toll road.
As reported by CNN Indonesia, previously the government already provided Rp 5 trillion in additional capital to state-owned electricity company PT PLN (Persero) and financial services firm PT Permodalan Nasional Madani (Persero). (MS)