PT Waskita Karya (Persero) Tbk through its subsidiary PT Waskita Toll Road (“WTR”) has provided Shareholder Loan (“SHL”) sourced from State Equity Participation (“PMN”) of Rp1.42 Trillion to PT Waskita Transjawa Toll Road (“WTTR”). The allocation of these funds will be used in the amount of Rp1.22 trillion for the completion of the Pasuruan – Probolinggo Toll Road Section 4A which is targeted to be completed in 2022 and Rp204 billion for the retention payments for the construction of the Pejagan – Pemalang Toll Road Sections III and IV.
"With the allocation of 2021 PMN funds for the Pasuruan - Probolinggo Toll Road and Pejagan - Pemalang Toll Road, the Company is optimistic that operating revenues from construction services will increase, at least reaching the pre-COVID-19 level with a level of burn rate higher, as well as expedite the divestment process which will be executed this year,” said Destiawan.
“The company targets 3-4 toll road divestments to be executed this year, and one of them is expected to come from WTTR. With the execution of the toll road divestment target this year, the Company can increase liquidity and profitability as well as reduce debt through deconsolidation," added Destiawan.
With support from the Government and the implementation of 8 streams In Waskita's financial recovery, the Company will focus on its operational business, one of which is through the completion of the Pasuruan – Probolinggo Toll Road and the Pejagan – Pemalang Toll Road.