TEMPO.CO, Jakarta – PT Clairvoyant Karya (Persero) Tbk through its subsidiary PT Waskita Toll Road divested shares worth Rp 824 billion for the concession of the Medan-Kualanamu-Tebing Tinggi Toll Road. The 30 percent stake for the expressway was bought by investors of Kings Ring Limited – the Road King Expressway (RKE) business group – from Hong Kong.
“Several other segments are still in the negotiation process and are in the stage of being studied by Investor,“Said President Director Waskita Destiawan Soewardjono in his statement, Thursday, April 22, 2021.
Street Medan Toll Road-Kualanamu-TebingTinggi has a length of 61.7 kilometers. This toll road has been operating since 2016. At the time of its construction, this road requires an investment value of Rp. 4.9 trillion.
The toll road share sale and purchase agreement was signed by PT Jasa Marga Kualanamu Tol and Kings Ring Ltd at the BUMN Ministry office, Jakarta, Thursday, April 22. Waskita was represented by the Managing Director of Waskita Toll Road Septiawan Andri Purwanto. Meanwhile, Kings Ring Ltd was represented by Road King Expressway CEO Fung Tat Sun Patrick.
Destiawan said this is not the first time Waskita has collaborated with RKE. In 2019, Waskita released 40 percent of the shares of the Solo-Ngawi and Ngawi-Kertosono toll roads to one of the company’s subsidiaries.
Destiawan explained that this divestment transaction is the first step in the divestment program for the nine toll roads that Waskita has completed this year.
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