Toll road divestment: 2 SOEs got the green light
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.
Bisnis Indonesia - Divestasi jalan tol: 2 BUMN dapat lampu hijau
29 March 2023
By: Muhammad Ridwan
Jakarta - The Toll Road Regulatory Agency (BPJT) of the Public Works and Housing (PUPR) Ministry mentioned that two state-owned enterprises (SOEs), namely PT Hutama Karya (Persero) and PT Jasa Marga (Persero), were planning to divest toll roads throughout this year.
BPJT Head Danang Parikesit explained that Hutama Karya’s divestment plan had been approved by three ministers, namely the SOE Minister, the Finance Minister, and the PUPR Minister.
“Hutama Karya has two segments in Sumatra, Bakauheni-Terbanggi Besar-Kayu Agung and Medan-Binjai,” he said in Jakarta on Tuesday (28/3).
Meanwhile, Jasa Marga has reported their corporate action that is related to the divestment plan of several toll segments of Trans-Java.
Danang mentioned that the divestment plan would be carried out through their subsidiary, PT Transjawa Toll Road, that manages several toll segments of Trans-Java.
He said that Jasa Marga’s divestment was carried out to raise funds for ongoing toll road projects, such as Probolinggo-Banyuwangi toll road, Patimban access toll road, and Yogyakarta-Solo toll road.
“Out of the segments of Trans-Java that they own, there are 7-8 segments [that will be divested]. Not all [will be divested]. They only asked [for approval] for 40% at most,” he revealed.
Previously, Hutama Karya divided the operating segments on Trans-Sumatra toll road into two parts, then it was followed up by a divestment plan.
The division divided Bakauheni-Terbanggi Besar segment and Medan-Binjai segment through PT Medan Binjai Toll and PT Bakauheni-Terbanggi Besar Toll as entities that received the division.
Hutama Karya Operations Director III Koentjoro stated that the division was carried out as there was an indication that the company might experience an unsustainable financial condition to construct and operate several segments of Trans-Sumatra toll road.
“After the division, a divestment of shares in a subsidiary will be carried out. Then, operational and maintenance cooperation with selected partners will be established,” he said in his official statement recently.
In both companies, Hutama Karya owns 99.9% of their shares, while the remaining 0.1% are owned by the Employees’ Welfare Foundation of PT Hutama Karya (Persero).
Next Article: Makassar-Parepare railway will connect up to Manado
