Waskita Karya Received Syndicated Loan Facility Rp1, 4 Trillion

INDUSTRY.co.id - Jakarta - PT Waskita Karya Tbk (WSKT) obtained a syndicated loan facility of Rp1.4 trillion from a syndicated creditor under lead arranger and bookrunner of PT Bank Negara Indonesia Tbk (Bank BNI).

"With the additional loan facility, Waskita Karya currently has a syndicated loan facility of up to Rp5.99 trillion from the previous Rp4.59 trillion," said Shastia Hadiarti, Corporate Secretary of WSKT, in Jakarta on Friday (03/11/2017) .

The other syndicated lenders are The Bank of Tokyo Mitsui Ltd., PT Sarana Multi Infrastruktur Tbk, PT BPD South Sumatra-Bangka Belitung, PT BPD West Java-Banten, PT Bank Panin Tbk, PT BPD Papua, PT Bank ICBC Indonesia, and PT BPD Riau.

Shastia explained that the loan facility will be used by Waskita Karya to support the financing of the construction of the LRT project in Palembang, which is currently being undertaken by the company.

Shastia explained that the financing is very necessary WSKT considering the Department of Transportation has not determined the budget ceiling for this post in RAPBN 2018.

Meanwhile, Shastia, if this transaction is not done, then it can directly affect the company as the contractor of LRTPalembang development project.

Previously, Waskita Karya received an assignment from the government to build LRT Palembang worth Rp10.9 trillion investment contract. The project is targeted to be operational by June 2018.

The project consists of services across the International Airport Sultan Mahmud Badaruddin II - Palembang Grand Mosque-Jakabaring Sport City. LRT Palembang will be equipped with 13 stations and 9 sub-stations, and has a Musi River bridge with 350 meter river span. (Abraham Sihombing)