Indonesia Targets End-of-November Completion for Merger of Four State Construction Firms
Danantara confirmed PTPP–ADHI and Nindya Karya–Brantas Abipraya mergers by end-November 2026, with WIKA and Waskita undergoing deeper restructuring first.
Indonesia's sovereign wealth manager Danantara has confirmed that the mergers of four state construction companies — PT PP with ADHI, and Nindya Karya with Brantas Abipraya — will be completed by the end of November 2026, announced October 8–9. The post-merger sequence is defined: divestment of non-core assets, repayment of operational debts, then debt restructuring. WIKA, carrying roughly Rp34 trillion in debt, and Waskita will undergo deeper restructuring before being merged in a later wave.
The consolidation will create two large state construction entities. The first-year agenda for merged entities of this scale typically centers on unifying business processes, ERP systems and contract archives — SPK, RAB and guarantee documentation — across legacy platforms.
Separately, Brantas Abipraya continues to pursue completion of the IKN DPR complex Package I by December 2027. The merger timeline leaves roughly four weeks from the announcement date, and final structures could still shift as the deadline approaches.