Indonesian state construction firm 7966 Waskita Karya said it will be developing the US$2.7 billion Bali toll road project.
But the Ministry of Public Works and Housing has yet to approve the 157km project which is in the pre-feasibility study stage.
Waskita Karya’s finance director Tunggul Rajagukguk also said the company might seek nearly $1.8 billion of financing this year for not just road projects but also power transmission work. Financing could be around half through bond issuance and the other half via ban loans.
The management is confident of securing funds of $409 million from rights issue as of end June 2015. During the first quarter of 2015, the firm has reported net profit of nearly $850,000, up 83% from a year ago. For 2015, the firm is aiming for net profit of around $77.2 million.
But the Ministry of Public Works and Housing has yet to approve the 157km project which is in the pre-feasibility study stage.
Waskita Karya’s finance director Tunggul Rajagukguk also said the company might seek nearly $1.8 billion of financing this year for not just road projects but also power transmission work. Financing could be around half through bond issuance and the other half via ban loans.
The management is confident of securing funds of $409 million from rights issue as of end June 2015. During the first quarter of 2015, the firm has reported net profit of nearly $850,000, up 83% from a year ago. For 2015, the firm is aiming for net profit of around $77.2 million.
