Adhi Karya Requesting Rp3tn State Equity
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21 February 2020 14:22 WIB
TEMPO.CO, Jakarta - State-owned construction company Adhi Karya (IDX: ADHI) will propose to get Rp3 trillion funding in the form of state equity participation (PMN). The funds would be used to finance the company's projects in the fiscal year of 2021.
Adhi Karya corporate secretary Parwanto Noegroho said here on Friday that the company needs a total of some Rp6 trillion to finance infrastructure projects.
The Rp3-trillion PMN proposal is also an effort to maintain the government's ownership in ADHI as a majority shareholder.
Adhi Karya will source the rest of its funding needs by holding a rights issuance to garner Rp2.9 trillion proceeds.
From this year until 2024, Adhi Karya plans to invest in infrastructure. Not only in a form of developing business opportunities, but also by participating in government programs that focus on national infrastructure development and investments.
ANTARA