Waskita offers Pemalang-Batang Toll Road divestment to Indo-Pacific investors
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 - Waskita tawarkan divestasi Tol Pemalang-Batang ke investor Indo-Pasifik
8 September 2023
Jakarta - PT Waskita Karya Tbk (WSKT) offered to divest its toll roads to potential investors or strategic partners at Asean Indo Pacific Forum (AIPF) that was held in Jakarta on 5 September 2023. State-owned Enterprises (SOE) Minister Erick Thohir mentioned that AIPF was an opportunity for SOEs to report their performance development to potential investors and strategic partners.
“It is a positive thing for Waskita Karya to introduce some of their achievements in toll road development in Indonesia,” Erick said in his official statement on Thursday (7/9/2023).
Moreover, Erick continued that, until now, Waskita has always been assigned by the government to construct toll roads to provide access to the public and cut logistics costs. “We hope that Waskita can take advantage of AIPF to establish many collaborations with investors and strategic partners,” he added.
Waskita Corporate Secretary SVP Ermy Puspa Yunita revealed that the company and its subsidiary, PT Waskita Toll Road (WTR), have laid out their achievements in toll road development in Indonesia. Since 2014, WTR has been controlling 18 toll segments spanning more than 1,033 km in Java and Sumatra.
“WTR currently holds the shares of 10 toll segments in Java and Sumatra spanning 548 km, including operating and partially operating ones,” Ermy said in her official statement on Thursday (7/9/2023).
According to her, the divestment of Pemalang-Batang toll road is one of the focuses of the company this year. Hence, the company illuminated the profile of PT Pemalang Batang Toll Road (PBTR) as a toll road business entity and the concession holder of Pemalang-Batang toll road, whose 60% of its shares are owned by WTR by several investors.
Pemalang-Batang toll road has been fully operating since 2018. The toll road that spans 39.2 km is a part of Trans-Java toll road that is connected to cities in Central Java Province. Pemalang-Batang toll road is also connected to other Trans-Java toll segments, such as Pejagan-Pemalang toll segment in the west and Batang-Semarang toll segment in the east.
Pemalang-Batang toll road can cut travel time from Pemalang to Batang to 39 minutes from 2 hours. The toll road is also located at a strategic location, so it is crucial to support economic growth in Central Java, including its industrial, goods, and service sectors.
