Waskita Karya To Sell 5 Toll Roads In 2022 To Relieve Debt That Has Reached Rp20.42 Trillion

JAKARTA - PT Waskita Karya Tbk plans to divest 4 to 5 toll roads to investors. This step is part of the company's efforts to restructure its debt. The sale of these assets will take place in 2022.

Waskita Karya's President Director, Destiawan Soewardjono, explained that the toll road divestment was part of the financial restructuring of the issuer with the stock code WSKT.

The toll roads that will be sold to investors consist of the Cimanggis-Cibitung, Bogor-Ciawi-Sukabumi (Bocim), Depok-Antasari (Desari), Trans Java, and Bekasi-Cawang-Kampung Melayu (Becakayu) toll roads.

"As a whole, Waskita is currently in financial repair with a restructuring period. It is expected that in 2025 it will be completed, in the restructuring process, one of which is the divestment of toll roads," he said when met by reporters in the Becakayu B2 area, Friday, 24 December.

Destiawan said previously 6 toll roads had been divested. Currently, Waskita still has 13 toll roads and 7 other sections are still in the construction stage.

"Because Waskita has 19, has divested 6, now there are still 13. And the construction must be completed, there are still 7 and are funded by PMN including this Becakayu," he said.

Furthermore, Destiawan explained that the toll sales proceeds will be used to pay the company's obligations to creditors. It was noted that until October 2021, Waskita's debt reached Rp. 20.42 trillion.

Meanwhile, the progress of WSKT's debt restructuring has only reached Rp. 16.62 trillion.

"If it's all finished, we can offer it to investors to settle obligations to creditors," he said.

"And this will affect Waskita's financial burden and it is hoped that Waskita will return to a better performance," he said.