Selling assets, Nusantara Infrastructure earned Rp121 billion
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - Jual aset, Nusantara Infrastructure raih Rp121 M
15 March 2023
Jakarta - PT Nusantara Infrastructure Tbk (META) through their subsidiary, PT Portco Infranusantara (Portco), obtained Rp121.5 billion. The fund came from the divestment of PT Intisentosa Alambahtera (ISAB) shares and the debt repayment from ISAB’s shareholders to the company. The transactions were made on 10 March 2023.
Nusantara Infrastructure Head of Corporate Communication & CSR Indah D.P Pertiwi said that the company has completed the divestment process of ISAB shares to PT LDC Indonesia with a transaction value of US$5.7 million or Rp87.6 billion.
Coincidentally, the company has also obtained US$2.2 million or Rp33.8 billion from the debt repayment from ISAB’s shareholders. ISAB is the holder of PT Pelabuhan Indonesia (Persero)’s concession for the construction and operation of dry and liquid cargo terminals at Panjang Port in Lampung that use and manage additional lands to provide tank storing service.
In this divestment activity, Salim Group officially received Rp121.5 billion. Nusantara Infrastructure sold 60,174 or 39% of their shares to PT LDC Indonesia. According to Indah, this divestment is part of the effort to strengthen the capital structure and expand the core business.
“Hence, through subsidiaries, we are releasing our shareholding in the port sector. The shareholding is a minority shareholding as it only reached 39%,” Indah explained in her official statement that was received by Investor Daily on Tuesday (14/3).
In the future, Indah continued that Nusantara Infrastructure is committed to continuously supporting infrastructure construction through various sustainable strategic projects in various sectors. Furthermore, the company is also supporting renewable energy and clean water projects.
Indah mentioned that the company’s largest portfolio is in the toll road sector, especially with toll roads in urban areas.
“Specifically in 2023, the company is working on several strategic projects, such as BSD toll road elevation at KM 8, Serpong ramp junction weaving at KM 10, access construction to Makassar New Port (MNP) spanning 3.2 km in Makassar, and the tender for Cikunir-Ulujami [segment] of JORR Elevated,” she revealed.
Previously, Nusantara Infrastructure was estimated to require more than Rp8 trillion to realise Cikunir-Ulujami segment of JORR Elevated and the strategic projects of subsidiaries.
President Director Danni Hasan explained that in the toll road business line that is managed by their subsidiary, PT Margautama Nusantara (MUN), the company is preparing to construct Cikunir-Ulujami segment of JORR spanning 21 km.
Besides that, the company is also planning to develop several existing toll roads, such as BSD toll road, by repairing the infrastructure to prevent flood. Then, they will also improve access and security on Kunciran-Serpong and Cinere-Serpong segments of JORR 2.
“Meanwhile, in the company’s project that is located in Makassar, the company will construct an elevated toll road access that is directly connected to Makassar New Port,” Danni said.
