After 65 Percent Of Cibitung-Cilincing Toll Shares, Pelindo's Debt Burden Reduced By IDR 8 Trillion

Rupiah (Photo: Antara)

JAKARTA - PT Pelabuhan Indonesia (Persero) (Pelindo) stated that its debt burden is projected to decrease by IDR 8 trillion. This is done by divesting or selling 65 percent of its shares on the Cibitung-Cilincing (JTCC) Toll Road.

Pelindo President Director Arif Suhartono projects that the company's debt in 2024 will decrease to IDR 41.93 trillion from IDR 49.87 trillion in 2023.

"Why in 2024 our projection is down, because this is related to our toll road divestment which is expected to be completed in 2024, it will reduce debt by around Rp. 8 trillion," said Arif quoting Antara.

Regarding the reason Pelindo took part in the toll road business, Arif said this involvement was because the company had an interest in access to and from the hinterland area at Tanjung Priok Port, Jakarta.

According to Arif, this must be done because 60-70 percent of cargo entering and leaving is on the east side of Jakarta.

"We're just making sure that the road is finished. And after it's finished, then there's no intention of Pelindo to defend it, then we'll let it go," said Arif.

At the time of the construction of the toll road, Pelindo invested IDR 9 trillion. Arif said Pelindo would not sell all of its shares because it would continue with the New Priok Eastern Access (NPEA) project.

"The divestment will be around 65 percent because we are still continuing the New Priok Eastern Access project which will connect Kalibaru with this road," he said.

The Cibitung-Cilincing (JTCC) toll road is one of 13 National Strategic Projects (PSN) that have been completed. Apart from JTCC, other toll road projects that have been completed in 2023 are the Cileunyi Sumedang Dawuan Toll Road, Serpong Cinere Toll Road, and Cinere Jagorawi Toll Road.

Meanwhile, the NPEA was built to support national logistics connectivity and efficiency. The NPEA is planned to have a length of 6.6 kilometers with an investment value of IDR 6.6 trillion.

The NPEA will be connected to the PSN of the Cibitung 'Cilincing Toll Road which has been completed and operational first.

The access road and toll roads will connect Tanjung Priok Port with various industrial areas in Bekasi, Karawang, and Purwakarta, West Java.