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Projects at Risk Due to Lack of Financing

Monday, March 17, 2025

State-owned construction firms face a financial crisis. Budget cuts result in lost contracts and delayed payments.

arsip tempo : 174223090866.

Ilustration: TEMPO/Alvin siregar. tempo : 174223090866.

THE Jatiluhur I Regional Drinking Water Supply System (SPAM) project in Purwakarta, West Java, has been in operation for just three months. Yet, Wijaya Karya is already considering selling it. The state-owned construction company (BUMN Karya) plans to divest part of its shares in WIKA Tirta Jaya Jatiluhur (WTJJ), which operates the water supply facility.

According to Wijaya Karya Chief Executive Officer (CEO) Agung Budi Waskito, the share sale i

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Retno Sulistyowati

Riri Rahayu contributed to the writing of this article. 

Hutama Karya Waskita Karya Adhi Karya Wijaya Karya construction SOE debts Public Works Ministry budget cuts
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