This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - Waskita dan CCCC Bentuk Aliansi Strategis untuk Membangun Infrastruktur
08 June 2021
Jakarta — PT Waskita Karya Tbk (WSKT) and China Communications Construction Company Co. Ltd (CCCC) have signed a master agreement to establish a strategic alliance in order to build transportation infrastructures and various industries in Indonesia. Through this agreement, Waskita and CCCC are committed to create mutually beneficial, efficient, effective, and professional synergy.
Both corporations are cooperating to develop transportation infrastructures and various industries, such as Kayu Agung-Palembang-Betung toll road, Ciawi-Sukabumi toll road, Cikampek-Plumpang fuel distribution pipe, Benoa Port revetment in Bali, as well as other infrastructure projects.
State-owned Enterprise (SOE) Minister Erick Thohir is welcoming this cooperation.
“The construction sector must continue to be active, not only to strengthen domestic connectivity but also to drive economic activities that will support Indonesia to grow during and after the pandemic,” Erick said during a press conference on Sunday (6/6).
“No matter what, we must escape from the crisis due to the pandemic and continuously strengthen cooperation with various parties,” he added.
Waskita President Director, Destiawan Soewardjono, said that this cooperation was one of the corporation’s strategy to create positive business growth after the Covid-19 pandemic.
“The construction and the infrastructure sectors are vital sectors to boost the national economic growth,” Destiawan said.
“Through synergy with large infrastructure developers such as CCCC, then the benefit will not only be added value for both of the companies, but also for the state and its citizens,” he continued.
In line with the spirit of the SOE Ministry to build strong partnership among SOEs and private corporations, Destiawan explained that he would further explore opportunities to construct infrastructures that could be synergised with foreign partners, such as CCCC or other strategic partners.
CCCC is a Chinese SOE that do business in investments, designing, construction, and transportation infrastructure. The company owns assets of US$204 billion per 31 December 2020.
The signing was held on Sunday evening where Waskita was represented by Destiawan Soewardjono, while CCCC was represented by its Executive Director Yun Liang. The event was witnessed by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Erick, and Finance Vice Minister Suahasil Nazara.
Besides conducted virtually to lower the risk of Covid-19 spread, this event was also conducted in three different countries, namely Indonesia, China, and United Arab Emirates (UAE). Destiawan is currently conducting a work visit to UAE to initiate a construction business opportunity in the Middle East and to visit Sheikh Zayed Grand Mosque in Abu Dhabi as its replica is being constructed by Waskita in Solo in Central Java.