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Tuesday, March 04 2014

Monday, February 24 2014, 4:10 AM

Six Toll Roads Construction in Early 2015Dimas Novita Sari, Elok Ani Riani

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JAKARTAPT Jakarta Tollroad Development (JTD) estimated the physical construction of six tollroads project in Jakarta can only be done as quickly as possible in early 2015, since this year isa political year.

JTD Head of Communication Division Ngurah Wirawan said the decision was made by capitalcity situation that will be preoccupied with a political agenda.

The point in an investment, we have to look at the project sustainability. We dont want theproject stop in the middle and would lead to greater losses, such as congestion and others, hetold Bisnis, Sunday (2/23).

In addition, the company also still needs time to finalize financial closing by the lender. Currently,JTD still exploring credit agreement with a banks syndicate led by Bank Mandiri.

He said some of the credit agreement terms and conditions are being discussed until to besigned in September.

So the signing of the toll road concession agreements (PPJT) is next month, while waiting landacquisition, thus construction begins at the beginning of next year, he said.

Meanwhile the drawdown will take place when the construction process begins, while during thepreparation for the construction, management will allocate equity capital base of the project.

Still according to the original plan, the first phase, the company will build the first two prioritysegments of Semanan-Sunter and Sunter-Pulo Gebang to be done simultaneously.

So we will build Semanan-Sunter first. It takes investment IDR8 trillion. Now we are ready toallocate IDR1 trillion from shareholders, he said.

As reported, Jakarta region-owned enterprise (BUMD), the toll Road Company as well asconstruction SOEs joins the JTD. BUMD that have a 78% stake JTD are PT Jakarta Propertindo,PT Jaya Konstruksi Mangala Pratama Tbk., PT Pembangunan Jaya Ancol Tbk., PT Jaya RealProperty Tbk., And PT Jaya Land.

And then PT Wijaya Karya Tbk, PT Citra Marga Nusaphala Persada Tbk, PT PembangunanPerumahan Tbk, PT Hutama Karta and PT Adhi Karya Tbk controlled 22%.

Still Be Prepared

On the other hand, Head of Toll Road Regulatory Agency (BPJT) Ahmad Ghani Ghazaly saidcurrently concession agreement was set to accommodate an agreement between thegovernment and business entities related to projects totaling IDR41, 2 trillion.

In addition, JTD credit agreement with banks syndicate also continues to be studied in order toconvince banks syndicate to provide loans. "The drawdown foundation has not met, he said.

Nevertheless, he is optimistic projects that had been rejected by Jakarta Governor Joko Widodocan run smoothly, although this time the monorail project was having problems.

Earlier, Governor Joko Widodo said highway construction will commence after the constructionof the MRT and monorail done.

The project is still running. All licenses relating to the province is already done. Now onlywaiting the permission of the Minister of Public Works, he explained.

The toll road project along 69.77 km is divided into six sections namely Semanan-Sunter 20.23km, Sunter-Pulo Gebang 9.44 km, and Duri Pulo-Kp Malay 12.65 km. Then Ulujami-TanahAbang 8.7 km, Kemayoran-Kp 9.60 miles Malay, Pasar Minggu-Casablanca 9.15 km.

Editor : Taufik Wisastra

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