There Is A Ckonglomerat's Gudang Garam Susilo Wonowidjojo Behind The Construction Of The Kediri-Tulungagung Toll Road

Illustration. (Photo: Doc. Antara)

JAKARTA - Cigarette company owned by conglomerate Susilo Wonowidjojo, PT Gudang Garam Tbk. (GGRM) injected Rp7 trillion into its subsidiary PT Surya Kerta Agung (SKA). This company is engaged in construction such as toll roads, bridges, and flyovers.

PT Surya Kerta Agung was founded in July 2019. At that time, GGRM together with PT Suryaduta Investama established SKA with a basic capital of IDR 200 billion.

The issued and paid-up capital reaches IDR 100 billion. This figure is equivalent to 100,000 shares with a nominal value of IDR 1 million per share.

GGRM recorded holding 99.9 percent of SKA shares or the equivalent of 99,999 shares with a value of Rp99.99 billion when SKA was established. Meanwhile, PT Suryaduta Investama owns as many as 1 million shares or equivalent to Rp1 million.

Meanwhile, SKA is a company engaged in the construction, improvement, maintenance and repair of highway and toll road projects. Apart from roads, SKA also built bridges and flyovers where SKA also made improvements, and maintenance.

SKA is also noted to have a subsidiary engaged in the construction of the toll road, namely PT Surya Kertagung Tol (SKT). The SKA subsidiary was founded in November 2020.

In its capital structure, SKT has a basic capital of IDR 1.2 trillion. The issued and paid-up capital reaches IDR 300 billion or as many as 300,000 shares worth IDR 1 million per share.

When the SKT was established, SKA took 299,999 or 99.9 percent of the shares or equivalent to Rp299.99 billion. Meanwhile, Heru Budiman took 1 share or 0.1 percent, equivalent to Rp1 million.

In addition to road construction, SKT is engaged in the installation of prefabricated buildings made from concrete for road and rail construction. This field is part of the work covered by the construction of civilian buildings and is carried out on the basis of a subcontract.

GGRM provided a capital deposit in the form of 7 million shares to SKA which is engaged in toll road infrastructure. The transaction value reached IDR 7 trillion. SKA plans to build the Kediri-Tulungagung Toll Road which will cross a number of areas in East Java.

This project is an unsolicited PPP proposed by GGRM. Investment in this project reached IDR 10.25 trillion with construction costs reaching IDR 5.72 trillion with a concession period of up to 50 years.

Based on data from the Toll Road Regulatory Agency (BPJT), quoted on Wednesday, January 11, the project will start construction in the second quarter of 2023 with an operational target in the second quarter of 2024. The Kediri-Tulungagung Toll Road has a length of 44.52 kilometers. The project is a continuation of the Kertosono Toll Road Kediri which aims to support the construction and development of the Kediri Airport area.