PT Waskita Karya (Persero) Tbk. continues to improve its performance by focusing on accelerating the completion of toll road infrastructure projects in Java and Sumatra as well as other strategic projects. With the support of the Government and the implementation of Waskita's eight streams of financial restructuring, the Company will focus on improving operational performance, one of which is through the completion of toll road sections under the management of the Company's subsidiary PT Waskita Toll Road (WTR).
The Company's SVP Corporate Secretary Novianto Ari Nugroho assured that a focus on operational business will improve the Company's financial performance in 2022 by increasing revenue from the construction sector. With government support through State Equity Participation (PMN) and Working Capital Credit (KMK) in 2021, the Company can continue the toll road completion process which has been delayed since the COVID-19 pandemic.
According to him, the completion of toll roads can improve operational and financial performance, and expedite the strategic partnership process that is currently being carried out by the Company. This is due to the tendency of new investors to choose toll roads that are already in operation, either partially or fully operational.
In 2022 the Company has succeeded in conducting strategic partnerships on several toll roads such as the Cimanggis-Cibitung Toll Road, Kanci-Pejagan Toll Road, and Pejagan-Pemalang Toll Road which are expected to help boost the Company's operational performance.
The PMN funds in 2021 from the Government amounted to Rp. 7.9 trillion, which Waskita received to accelerate the completion of 7 toll roads in Java and Sumatra. The seven toll roads include the 69.19 km Kayu Agung-Palembang-Betung Toll Road Section 2 with a length of 69.19 km. The Bekasi-CawangKampung Melayu Toll Road Section for Wiyoto Wiyono Connection and 2A Ujung is 4.88 km long last week just operated three additional lines, namely On Ramp Prumpung, On Ramp Casablanca, and Section 1A Connection Toll Wiyoto Wiyono East side. The Cimanggis-Cibitung Toll Road Section 2A is 3.4 km long. The Ciawi-Sukabumi Toll Road Section 2 is 11.9 km long. The Krian-Legundi-Bunder-Manyar Section 4 toll road is 9.29 km long. The Pasuruan-Probolinggo Toll Road Section 4 is 12.45 km long. The 57.5 km Pejagan-Pemalang toll road is currently fully operational.
For the 2022 PMN fund plan, Waskita will receive an allocation of IDR 3 trillion. To maintain the composition of share ownership between the Government and the Public after receiving the PMN, Waskita will carry out a Rights Issue corporate action with a target of Rp980 billion. PMN funds of IDR 3 trillion will be used to complete two toll roads, namely, the Kayu Agung-Palembang-Betung Toll Road (KAPB) Phase II of IDR 2 trillion and the Ciawi-Sukabumi (Bocimi) Toll Road Section 3 of IDR 1 trillion. While the target for obtaining rights issue funds is IDR 980 billion, The Plan will be used for additional working capital for other strategic infrastructure projects being carried out by Waskita,” concluded Novianto.
