PT Waskita Karya Tbk (WSKT), through its subsidiary, PT Waskita Toll Road, released its 30% ownership of PT Jasa Marga Kualanamu Tol (JMKT) to the investor from Hong Kong, Kings Ring Ltd.

"The share divestment transaction worth Rp824 billion," said Waskita Karya President Director Destiawan Soewardjono in a press release on Thursday (22/4).

According to him, the JKMT divestment is the first step in the divestment program for nine toll roads planned by the company this year.

"Several other segments are still in the negotiation process and are in the stage of being studied by investors," he said.

He added that Waskita allocated the fresh funds obtained from the share sale to fulfill obligations to creditors and additional working capital and investment in other infrastructure projects.

JMKT is a toll road business entity that holds the concession for the Medan-Kualanamu-Tebing Tinggi segment. Meanwhile, Kings Ring L