Press Debt Load, Hutama Karya Off Toll Road To INA Assessing Rp34 Trillion

JAKARTA - PT Hutama Karya (Persero) will release three toll roads to reduce the company's debt.

This step was taken after HK received a commitment from the Indonesia Investment Authority (INA).

From the release of this toll road, HK is eyeing fresh funds of Rp34 trillion.

The three toll roads referred to by the Bakauheni-Terbanggi Besar Toll Road, the Terbanggi Besar-Pematang Panggang-Kayu Agung Toll Road, and the Medan-Binjai Toll Road.

Hutama Karya's President Director, Budi Harto, said that his party had signed the Head of Agreement (HoA) with INA to release the three toll roads.

"So HK has HoA with INA for asset recycle three toll roads. Everything is 350 km, an estimate of Rp34 trillion," he said at the 'Ngopi Bareng BUMN' event, Thursday, September 29.

Budi said it was targeted that by the end of the year HK and INA could disrupt the divestment process for the three toll roads.

The company's revenue from the asset will be used to reduce debt from the previous toll road construction.

"The income from the asset recycle is to reduce Hutama Karya's loan to finance the sections that have been built," he explained.

Budi did not deny that at the beginning the planning for the construction of the Trans-Sumatra toll road was not an investment economy.

Because of this, the government then assigned HK to run a Trans-Sumatra development project.

However, Budi continued, after it was built, it turned out that Sumatra's economic growth had increased. In fact, the traffic that accounts for the Trans-Sumatra Toll Road is also increasing.

"The process of this financing development is quite good, the segment which operates for 3 years shows an increase in traffic. Some areas with toll exits in Sumatra have requests for new connections above the national average showing there are benefits," he said.