JAKARTA - State-owned airport operator PT Angkasa Pura I (Persero) or AP I is using independent financing in the development of three airports categorised as national strategic projects by the government.
The three airport projects are Yogyakarta International Airport in Kulon Progo, Yogyakarta; a new terminal at Ahmad Yani International Airport in Semarang, Central Java; and a new terminal at Syamsuddin Noor International Airport in Banjarmasin, South Kalimantan. The projects were declared as national strategic projects in 2017.
According to AP I CEO Faik Fahmi, the three airport projects are independently financed in order to imporve regional economic independence and ease the state's financial burden.
"The independent financing in question is through the use of internal cash and bond issuances," Mr Fahmi said in an official statement on the Ministry of State-owned Enterprises' website, Sunday (23/8).
"In addition, Angkasa Pura Airports is also prepared to be assigned to operate and develop airports previously operated by the government."
AP I has spent Rp 10.5 trillion for the development of Yogyakarta International Airport, Rp 2.075 trillion for Ahmad Yani Airport's new terminal, and Rp 2 trillion for Syamsuddin Noor Airport's new terminal.
In order to finance airport development and expansions, the company issued Bond I Angkasa Pura Airports and Sukuk I Angkasa Pura Airports with a total value of Rp 3 billion and obtained loans amounting to Rp 5 trillion from banks and other financial institutions in 2016.
Other airports currently being expanded by AP I are Adi Sumarmo International Airport in Solo, Central Java; Juanda International Airport in Surabaya, East Java; Lombok International Airport in Lombok, West Nusa Tenggara; El Tari International Airport in Kupang, East Nusa Tenggara; Sultan Hasanuddin International Airport in Makassar, South Sulawesi; Sam Ratulangi International Airport in Manado, North Sulawesi; and Pattimura International Airport in Ambon, Maluku. (MS)