Acquisition of toll road land: WSKT controls Cibitung - Cilincing
Akuisisi jalan tol: WSKT kuasai Cibitung - Cilincing
Bisnis Indonesia, 28 April, 2017
By Deandra Syarizka
JAKARTA - PT Waskita Karya Tbk., via PT Waskita Toll Road, has acquired 55 percent of the shares of PT MTD CTD Expressway, the company holding the concession right of the 34.02km-long Cibitung - Cilincing toll road segment, which was owned by Malaysian investors.
President Director of PT Waskita Karya Tbk. (WSKT), Muhammad Choliq, said that, with the acquisition, the company becomes a controlling shareholder, while the remaining 45 percent is still held by PT Pelindo II. The acquisition price is Rp 715 billion, or 55 percent of the valuation of the segment, which reaches Rp 1.30 trillion.
"A week ago, we [WSKT] acquired the Cibitung - Cilincing toll road segment from Malaysian investors," he said, after a dialogue with the publicly listed firm engaged in the construction and infrastructure sectors on Thursday (27 April).
The Cibitung - Cilincing toll road segment will be connected to Cimanggis - Cibitung, which belongs to Waskita Toll Road.
The two toll road segments, which are included in the Jakarta Outer Ring Road (JORR) II network, play an important role in improving the logistics distribution flow to and from Kalibaru Port. The management of these two segments will also be synergized within a holding company formed between WSKT and Pelindo II.
With this acquisition, Waskita Toll Road holds a total of 18 toll road concessions encompassing some 988.89 kilometres.
The Cibitung - Cilincing toll road becomes the third segment obtained by the company this year, after it previously got the concessions for Cileunyi - Sumedang - Dawuan (Cisumdawu) and Kualatanjung - Tebing Tinggi - Parapat toll road segments through auction process.
"There is no more acquisition plan as no other toll road segments are available. Presently, we are actively marketing the toll segments that are about to be completed," he said.
Choliq has set a target to complete the construction of some 300km of toll roads this year. Most of the toll roads are in the Trans-Java network, among them Kanci - Pejagan, Pejagan - Pemalang, Pemalang - Batang.
In addition, other segments targeted for completion are Medan - Kualanamu - Tebing Tinggi and Bekasi - Cawang - Kampung Melayu.
Head of Investment of the Toll Road Regulatory Agency (BPJT), Sudiro Toy, confirmed the transfer of ownership of the Cibitung - Cilincing toll road segment from MTD CTD Expressway to PT Waskita Toll Road. "Yes, in that segment, Waskita has 55 percent," he said.
Toll Roads Belong to PT Waskita
Toll Road Segment |
Length (Km) |
Ownership (%) |
Medan - Kualanamu - Tebing Tinggi |
61.80 |
30 |
Pejagan - Pemalang |
57.70 |
100 |
Solo - Ngawi |
90.10 |
40 |
Ngawi - Kertosono |
87.02 |
40 |
Bekasi - Cawang - Kampung Melayu |
21.40 |
60 |
Cimanggis - Cibitung |
26.30 |
90 |
Depok - Antasari |
21.54 |
25 |
Serpong - Cinere |
10.14 |
40 |
Pejagan - Kanci |
34.50 |
100 |
Pasuruan - Probolinggo |
31.30 |
100 |
Bogor - Ciawi - Sukabumi |
54 |
81.64 |
Pemalang - Batang |
39.20 |
60 |
Batang - Semarang |
75 |
40 |
Kayu Agung – Palembang - Betung |
111.69 |
60 |
Krian - Legundi Bunder - Manyar |
30 |
55 |
Cileunyi - Sumedang - Dawuan |
60 |
15 |
Kuala Tanjung - Tebing Tinggi -Parapat |
143 |
30 |
Cibitung - Cilincing |
34.02 |
55 |
Total |
988.89 |
|
Source: Bisnis Data, processed 2017