Waskita Karya Will Divest 3 More Toll Roads, Here's The List

JAKARTA - PT Waskita Karya Tbk (WSKT) will continue to divest the Pemalang Toll Road in 2025.

The toll road is part of a Trans Java which is claimed to have quite good traffic.

As is known, toll divestment is a process in which toll road owners or managers sell part or all of their share ownership to other parties, such as private investors, financial institutions or other business entities.

Previously, Waskita had released the Pejagan and Pejagan' Pejagan (Pemalang) section to the Indonesia Investment Authority (INA).

The company is in the process of negotiating with several investors for the divestment.

"In 2025, we plan to continue the Pemalang Batang. The traffic is quite good at Trans Java, we believe it can be completed," said Director of Business Strategic, Portfolio & Human Capital Waskita Rudi Purnomo in a Public Expose at Waskita Heritage Building, Jakarta, Tuesday, November 26.

Waskita Karya also plans to divest share ownership on the Cimanggis 'Cibitung' Toll Road (CCT) after completing several ongoing work.

The State-Owned Enterprises (BUMN) in the construction services sector has divested 55 percent of its shares in PT Cimanggis Cibitung Tollways (CCT) to PT Sarana Multi Infrastruktur (SMI) in January 2022.

After the transaction, the CCT ownership structure consists of SMI at 55 percent, Waskita Toll Road (WTR) at 35 percent and other shareholders at 10 percent.

"Currently, a lot of people are interested. We are currently working on this because we still have some work to do," he said.

WSKT also plans to divest the Pasuruan 'Probolinggo (Paspro) Toll Road in 2027.

Currently, the construction of the toll road from East Probolinggo to Besuki is 45 kilometers (km).

Rudi said daily traffic on the toll road reached 26,000 vehicles, in accordance with the Toll Road Concession Agreement (PPJT).

After connecting with the Trans Java network in the eastern region, the traffic volume is estimated to increase to 35,000 vehicles per day.

"For 2027, we plan to release the section in Pasuruan 'Probolinggo," said Rudi.

It didn't stop there, Rudi said, that WSKT would also continue to divest several toll roads after 2029, along with the ongoing completion of the construction process.

One of them is the continuation of the Bekasi 'Cawang' Kampung Melayu (Becakayu) toll road.

"Becakayu still has a continuation of almost 12 kilometers to Tambun. This is a tender, there will be a construction process for two years," he said.

According to Rudi, the company is committed to being consistent with the schedule set in the Master Restructuring Agreement (MRA) related to the divestment of these assets.

"We will be consistent with the timing (time) that has been given within our MRA structure," he concluded.