TEMPO.CO, Jakarta - The EVP secretary of state-owned construction firm Hutama Karya, Tjahjo Purnomo, said the company planned to divest toll road assets that are now operable. As of 2022, the company is eyeing to divest five Trans Sumatra toll road sections in its asset recycling.

The toll road sections are the Medan-Binjai toll, Pekanbaru-Dumai toll, Palembang-Indralaya toll, Bakauheni-Terbanggi Besar toll, and Terbanggi Besar-Pematang Panggang-Kayu Agung toll sections.

Due to the nature of the plan, the company has not disclosed the value or process of the transactions. “There are no sales value or transactions from these assets yet,” said Purnomo on March 14, Bisnis.com reported.

In constructing the toll road, Hutama Karya relied on bank loans and plans to use the funds from the asset recycling to pay off the debts and interest for the now-operable Trans Sumatra toll road sections.

In addition, said Tjahjo, asset recycling is carried out to provide certainty for Trans Sumatra Toll Road projects that are still in the construction stage. "Asset recycling for these five toll road sections is an alternative financing to build other JTTS toll roads, where so far Hutama Karya has used loans as a source of financing for JTTS development," he said.

Read: Trans Sumatra Toll Project Possibly to Stop over Lack of Capital Injections

BISNIS.COM