The Government of Indonesia and the House of Representatives (DPR) have announced plans to provide IDR72.44 trillion in State Equity Participation (PMN) to 12 state-owned enterprises (SOEs), in 2022, to support public infrastructure projects, logistics costs reduction, as well as electricity and housing procurement.
Among the 12 SOEs that will receive the PMN is PT Hutama Karya, which will receive IDR31.35 trillion for the construction of the Trans Sumatra Toll Road and PT Aviasi Pariwisata Indonesia, which will receive IDR9.32 trillion for capital and restructuring and the construction of the Mandalika project.
PT Perusahaan Listrik Negara will receive IDR8.23 trillion in funding for transmission substation and rural electricity, PT Bank Negara Indonesia Tbk will receive IDR7 trillion for inproving its capital adequacy ratio, PT Kereta Api Indonesia will get IDR4.10 trillion in finances for the Jakarta-Bandung high speed rail (HSR) project, PT Waskita Karya will get IDR3 trillion for capital restructuring and Indonesia Financial Group has been allocated IDR2 trillion for restructuring PT Asuransi Jiwasraya.
Additionally, PT Adhi Karya Tbk will receive IDR2 trillion for construction works on the Solo-Yogyakarta and Yogyakarta-Bawen highway and Karian-Serpong drinking water supply system projects and DAMRI will receive IDR0.25 trillion to expand its bus fleet.