Jakarta, CNBC Indonesia – President Director of PT Hutama Karya (HK) Budi Harto, said the need for an injection of funds for the Tran Sumatra toll road project for operation as well as project completion. HK is a state-owned company that has been directly appointed to work on this big project so that the pressure on the company’s finances is quite heavy.
“The Internal Rate Of Return (IRR) for this project has decreased, so we have to review the ratio of funding sources. We currently have a loan of Rp 42 trillion for the Sumatra Toll road. After reviewing this figure, this is quite large, so we communicate it to shareholders and The Ministry of PUPR to reduce this loan, so we need additional injections during operations, as well as support for completing the rest of the toll road construction, “he said in a webinar on Measuring Infrastructure, Friday (16/4/2021).
PT Hutama Karya (Persero) lacks investment equity for the remaining construction of the Trans Sumatra Toll Road (JTTS) construction segment worth Rp. 60.7 trillion of the total investment of Rp. 79.5 for the total road segment. Then for the operating segments, they still lack equity of Rp. 5.9 trillion. Meanwhile, the availability of equity amounted to Rp 12.5 billion and a loan of Rp 6.2 billion from partners of Rp 100 billion.
Currently, the JTTS segment which has been operating has reached 531 kilometers. starting from Medan – Binjai, Bakauheni – Terbanggi Besar, Palembang – Indralaya, Large TB – Baked Pematang, Baked Pematang – Kayu Agung, Pekanbaru – Dumai, Sigli – Banda Aceh (Section 4).
The sections under construction are Sigli-Banda Aceh, Kisaran – Indrapura, Kuala Tanjung – High Tb – Parapat, Sp Indralaya – Muara Enim, Sic Cincin – Padang, Pekanbaru – Pangkalan, Taba Penanjung – Bengkulu, Binjai – Pangkalan Brandan. According to Budi, the construction segment with a total length of 533 is targeted for completion by 2023.
“So in 2023 the island of Sumatra will be the 1,063 km toll road, plus the toll from Jasa Marga and Waskita Karya,” explained Budi.
The length of the JTTS toll road from Bakauheni – Aceh reaches 2,835 kilometers with an investment value of Rp 515.05 trillion. Budi said that toll road construction services are vulnerable to economic conditions which disrupt the finances of BUMN Karya. He gave an example of a decrease in daily traffic and inflation.
On the same occasion, Deputy Director of PT Hutama Karya (Persero) Aloysius Kiik Ro said that the company is currently balancing its balance sheet. Therefore, HK is in discussion with the government to obtain state capital participation (PMN), which has already been obtained amounting to IDR 6.2 trillion.
“We are currently discussing with the Ministry of PUPR as well as the Ministry of Finance for the process of adding PMN. In 2021, Rp 6.2 trillion is obtained. There is a discussion if there is a possibility that the APBN-P (changes) are proposed to be added next year and so on until 2024 we want certainty so that planners physically achievable, “said Aloysius
Aloy also said that HK will not issue the remaining global bonds worth US $ 900 million in the near future.
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