The Acquisition Of The Trans Sumatra Toll Road Is Called The Most Complex Transaction In Asia Pacific

Trans Sumatra toll road (Photo; Antara)

JAKARTA - The Indonesia Investment Authority (INA) said that the acquisition transaction of two Trans Sumatra Toll Road (JTTS) sections worth IDR 20 trillion from PT Hutama Karya (Persero) was the most complex thing in the Asia Pacific Region.

Moreover, the jumbo transaction between INA and HK even recently pocketed recognition from the financial journal and infrastructure institution from London IJINvestor 2023.

"Just last night we received news that this transaction (acquisition of the two JTTS sections) received extraordinary rewards in London because it could make quite a complex transaction," said Chairman of the Board of Directors of INA Ridha Wirakusumah in the Creative Infrastructure Financing Day agenda at the PUPR Ministry Building, Jakarta, Wednesday, December 13.

Ridha explained that the transaction was said to be one of the most complex because there was a separation or spin off of the concession rights and assets in it.

On the other hand, Ridha said that the acquisition transaction also brought a number of benefits. He said the transaction could even release Hutama Karya's debt which was guaranteed by the government as much as Rp. 8 trillion.

"Secondly, Hutama Karya received cash from us of around Rp. 13 trillion. The money can be used to build toll roads remaining from Trans Java. Third, in terms of PMN, which previously had to be disbursed by the Ministry of Finance, decreased by around Rp. 20 trillion due to this transaction," he said.

Previously, the Indonesia Investment Authority or INA officially took over two toll roads belonging to PT Hutama Karya (Persero), namely the Bakauheni-Terbanggi Besar Toll Road and the Medan-Binjai Toll Road. The transaction value for the acquisition of BUMN Karya assets reached Rp20.5 trillion.

The sale is the transfer of old assets, to build new assets (asset recycling).

"So, once again, thank you to the Ministry of PUPR who really really helped us in carrying out this complex transaction," he added.