Waskita Karya Uses Rp3 Trillion Capital From The State For Two Toll Projects In Sumatra And Java

Waskita President Director Destiawan Soewardjono. (Photo: Doc. ANTARA)

JAKARTA - PT Waskita Karya Tbk received state capital participation (PMN) 2022 of IDR 3 trillion through a scheme for issuing new shares with pre-emptive rights issues.

This fund will be used to complete two toll projects in Sumatra and Java.

The plan is that the rights issue issue with the stock code WSKT will be carried out in November.

Waskita targets to absorb public funds of Rp980 billion from the rights issue.

Waskita President Director Destiawan Soewardjono said, after the rights issue, Waskita's stock composition will also change.

The interview is 75.35 percent for the government and 24.65 percent for the public.

Destiawan ensured that PMN would be used to complete the construction of two toll roads in Sumatra and Java, namely the Kayu Agung-Palembang-Betung toll road section and the Ciawi-Sukabumi toll road section.

For the Kayu Agung-Palembang-Betung Toll Road, said Destiawan, the funds allocated amounted to Rp2 trillion.

Meanwhile, the Ciawi-Sukabumi toll road is worth Rp996 billion to Rp1 trillion.

"So it can be ascertained that we will not use PMN for other projects, so that the existing toll road can be completed next year," said Destiawan, in a working meeting with Commission XI of the DPR, quoted on Tuesday, September 13.

Meanwhile, the Director General of State Assets of the Ministry of Finance, Rionald Silaban, said that the rights issue of the issuer codenamed WSKT aims to strengthen Waskita Karya's capital structure.

This step, Rionald continued, is also expected to facilitate the credit restructuring process in toll road business entities due to financial support from stakeholders.

"From the restructuring program, 2021 State Capital Participation is IDR 7.9 trillion and PMN in 2022 is IDR 3 trillion with a rights issue scheme," he said.