JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) has channelled out a non-cash loan facility worth IDR 100 billion to PT Wijaya Karya Serang Panimbang (WKSP), a Tollway Business Unit responsible for the Serang-Panimbang Toll Road project.
This facility was granted in order to support the construction of the Serang-Panimbang Toll Road project, as Mahendra Vijaya, Corporate Secretary of WIKA, revealed.
In its official announcement, Vijaya mentioned that the the said non-cash loan facility follows the 2021 and 2022 Work Plan and Budget of the company. The loan disbursement will be carried out gradually, following the need of WKSP.
“The distribution will be based on the need of WKSP whose amount will follow the limit set in the Work Plan and Budget,” Vijaya further explained.
With this non-cash loan facility, WIKA expects WKSP to complete the existing and running tollway project on time based on the operational schedule. Based on idnfinancials.com data, the the Serang-Panimbang Toll Road is targeted to fully and commercially run by 2024.
WKSP is a subsidiary of WIKA with an ownership percentage of 83.42%. Another 15.64% goes to PT Pembangunan Perumahan (Persero) Tbk (PTPP), while the remaining 0.94% is owned by PT Jababeka Infrastruktur. (KR/ZH)