WTR lent IDR 105.74 billion for Cibitung Tanjung Priok Port Tollways
JAKARTA – PT Waskita Toll Road (WTR), the subsidiary of PT Waskita Karya (Persero) Tbk (WSKT), sparingly lent PT Cibitung Tanjung Priok Port Tollways (CTPPT) IDR 105.74 billion. The news was brought by Ratna Ningrum, the Senior Vice President Corporate Secretary PT WSKT, through the information disclosure quoted on Tuesday (20/4).
It was announced that CTPPT would utilise the loan to pay the construction cost and its interest during the construction period. The fund resources originated from WSKT, the controller of 81.475% of WTR’s shares.
CTPPT is a part of the Toll Road Business Entity (BUJT) and the subsidiary of WTR, with WTR’s ownership portion of 55% and the remaining 45% belonged to PT Akses Pelabuhan Indonesia (API). Prior to the redistribution of its shares on April 26, 2017, the shares ownership structure of CTPPT was MTD Capital Bhd. owning 50% of the shares, PT Nusacipta Etika Pratama 5%, and API 45%. The funding for the Cibitung-Cilincing toll road project would consist of the shareholders’ contribution of 30% and the creditors’ of 70%. (LK/ZH)