JAKARTA - The Indonesia Investment Authority (INA) through its wholly-owned subsidiaries, namely PT Rafflesia Investasi Indonesia (RII) and PT Abhinaya Investasi Indonesia (AII) signed a Transaction Settlement Agreement with PT Waskita Karya (Persero) Tbk (WSKT) and its subsidiaries. PT Waskita Toll Road (WTR), for 2 (two) sections of the Trans Java Toll Road, namely the Kanci - Pejagan Toll Road and the Pejagan - Pemalang Toll Road. The signing of this Transaction Settlement Agreement is a follow-up to the signing of the Confirmation of Transaction Commencement (CTC) between the two parties witnessed directly by President Joko Widodo last April. The collaboration between INA and Waskita Karya will further strengthen Waskita Karya's cash flow to accelerate the development of other toll road projects in Indonesia.
Waskita Karya President Director, Destiawan Soewardjono said, "The transaction settlement agreement from INA to Waskita Karya is a form of support for the Company's commitment to complete the construction of other toll roads that are still under construction, and national strategic projects determined by the Government.
This transaction is supported by banking partners and financial institutions, namely PT Bank Negara Indonesia (Persero) Tbk (acting as Coordinator), PT Bank Mandiri (Persero) Tbk, PT Sarana Multi Infrastruktur (Persero) and PT Bank Pembangunan Daerah Jawa Tengah. The financing structure provided is the first in toll road financing in Indonesia, where there is no recourse to sponsors and creditors rely on the feasibility of the related project independently. (LM)