PT Waskita Toll Road (WTR) signed a Conditional Sale Purchase Agreement (CSPA) with RDPT Samuel Asset Toll Road Management regarding the release of 20% WTR shares in the Semarang-Batang toll road.

"After signing the CSPA, we still have to fulfill the administrative requirements and ensure that the divestment process is carried out properly and complies with the prevailing regulations prior to the signing of the sale-purchase agreement (SPA)," said WTR President Director Septiawan Andri Purwanto, in a written statement in Jakarta, Friday. (5/3).

According to Septiawan, the divestment transaction value reached Rp1.5 trillion, which will support its business processes in the future. The RDPT is equity-based, formed by PT Samuel Aset Management (SAM) and PT Bank Negara Indonesia (Persero) Tbk as custodian banks.

"Currently, WTR has a 40% stake in the PT Jasamarga Semarang Batang section, which is a toll road business entity that owns the Semarang - Batang toll road concession," he explained.

The parent company of WTR, PT Waskita Karya (Persero) Tbk, once announced plans to release 11 toll road projects with estimated proceeds of up to Rp31 trillion.

Based on Waskita's presentation, the 11 toll roads include the Cimanggis-Cibitung toll road with a length of 25.4 kilometers (km) with a potential value of IDR 3.5-4.5 trillion, the 34 km Cibitung-Cilincing toll road, valued at IDR 1-2 trillion, the Ciawi-Sukabumi toll road with a length of 54 km valued at Rp 5-6 trillion, the Depok-Antasari toll road along 27 km worth Rp 500 billion-Rp 1 trillion, the Cinere-Serpong toll road along 10.1 km worth Rp 1-2 trillion, and the 35 km Kanci-Pejagan toll road, valued at Rp500 billion - Rp1.5 trillion.

Then, the 57.5 km Pejagan-Pemalang toll road with a potential value of Rp2-3 trillion, the Pemalang-Batang toll road stretching 39.2 km worth Rp2-3 trillion, the Batang-Semarang toll road 75 km worth Rp5- 6 trillion, the 44 km Pasuruan-Probolinggo toll road valued at Rp500 billion-Rp1.5 trillion, and the 38 km Krian-Legundi-Bunder toll road valued at Rp4.5-5.5 trillion.