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December 26, 2024 | 05:40 pm
TEMPO.CO, Jakarta - A merger between Indonesia’s railway company, PT Kereta Api Indonesia (KAI), and state-owned rolling stock manufacturer, PT INKA, is still in the “premature” stage, PT KAI’s president director, Didiek Hartantyo, claimed on Thursday, December 26.
“We are awaiting clarity from shareholders,” Didiek told Tempo.
Minister of State-Owned Enterprises (SOEs) Erick Thohir said on Tuesday that the merger process between PT KAI and PT INKA is underway, adding that the process will take time.
The merger plan, Erick said, was included in the consolidation scheme to reduce state-owned enterprises from 47 into 30 enterprises.
“We will push 45 programs for the next five years, including the consolidation efforts,” he said.
Erick said the process will be carried out in stages, adjusting to the characteristics of each company. Some would take a year or two to complete the merger process, he said.
In addition to the merger plan between PT KAI and PT INKA, a merger between PT Pelni and PT ASDP is underway, which Erick claimed is supported by the Minister of Transportation, Dudy Purwaghandy.
The minister also said that his side will have to re-submit the review of the merger plan to the new Minister of Public Works, Dody Hanggodo, after the government transitioned into Prabowo’s new cabinet.
The plan to downsize SOEs has been widely mentioned by Erick Thohir since the last few months. In early March 2024, he had designed a road map for the period 2024-2034 related to the consolidation plan of state-owned enterprises, including reducing the number of SOEs to 30.
Since assuming office in 2019, Erick Thohir has planned to reduce the number of SOEs. By June 2020, the Ministry of SOEs had reduced the number of its entities from 142 to 107 SOEs to ensure efficiency and effectiveness of the state-owned enterprises.
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