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(Tempo) Soekarno-Hatta Airport Needs 20 Trilion, likely from PMN-SOE Capital Stimulus

12/12/2018



Airport management company Angkasa Pura II needs around Rp 20 trillion to develop Soekarno-Hatta Airport for the next 30 to 40 years.

In order to obtain the funds, Angkasa Pura II president director Budi Karya Sumadi said that he will undertake various actions. "We will issue bonds, request state capital investment and take [money] from our revenues," Budi told.

For this year's funding, the company will issue bonds in September 2015 with a minimum value of Rp 1 trillion. "December at the latest," he said, adding that the company decided to issue bonds because it is easier than applying for loans.

The State-Owned Enterprises Minister is currently proposing for the company to receive state capital of Rp 3 trillion this year. In the next five years, the company will also be preparing to take part in stock exchange.

Regarding Soekarno-Hatta’s development, Budi targeted to finish building the third runway in 2017 to accommodate aircraft movement.