Development of toll roads in Indonesia.
Indonesia, which is much bigger than Malaysia both in population and territory is far lagging behind that neighboring country in total length of toll roads.
Despite the fact that Malaysia began building toll roads only ten years after Indonesia, but that country already has toll roads totaling around 1,600 km leaving Indonesia behind with around 700 kilometers of toll roads.
Toll roads are vital infrastructure to support economic development, therefore, toll road development is a priority in the country's infrastructure development program.
The government plans development of many toll roads to reach a total length of 19,370 kilometers in 2014. The toll road projects are located in Sumatra, Java, Bali, Kalimantan, Sulawesi, West Nusa Tenggara, East Nusa Tenggara and Papua.
Toll Road Development Strategies
The objectives of toll road development include facilitating economic development, to facilitate links between areas and to cope with traffic jams.
The government has set toll road development in priority since 2006 with a number of targets :
First to build secondary trunk/feeder in Java covering the routes of Ciawi-Sukabumi-Bandung and Cilenyi-Sumedang-Dawuan.
Second is to build main trunk in Java connecting the western and eastern ends of Java with the route of Merak-Jakarta-Cikampek-Cirebon-Semarang-SoloSurabaya-Banyuwangi. The main and secondary trunks will make up the system of Trans Java toll road.
Third is development of toll roads in big cities as growth centers in Java such as Greater Jakarta, Yogyakarta,-Solo,-Semarang (Joglosemar), and Surabaya.
Development of toll roads in large cities outside Java including Medan, Palembang, Riau, Bali, Makassar, and Manado makes up the fourth strategy.
Toll roads in operation
Currently there are 28 toll roads totaling 739,27 km all over Indonesia already in operation. The number includes the Suramadu bridge, bridge spanning the sea in the Madura straits linking Surabaya with the island of Madura and the 35-kilometer Kanci Pejagan section of the Trans Java toll road and the Jakarta Outer Ring Road (JORR) W1.
The total length of toll roads in operation is expected to continue to increase as there are a number of toll road projects under construction.
Program of Accelerated Development of Toll Roads
Development of toll roads has often been stalled by difficulty in land clearing as it the project always involves private property. Delay in development results not only in delay in the realization of toll road contribution to economic development but also often results in higher cost.
Therefore, the government has launched a program to accelerate development of toll roads for him 2005-2009 period including 12 toll roads under Trans Java and 20 non Trans Java toll roads.
Toll road projects to be put on tender
Projects attracting few investors
Some of the toll road projects offered by the government have attracted few or no investors as they are considered not profitable such as the Medan--Kualanamu--Tebing Tinggi toll road project in North Sumatra.
The government tries to attract investors by offering to handle land clearing for toll project included in batch IV. After the completion of the land clearing the project would be put on tender. The policy was taken after twice failing to attract investors to take part in tender.
Profile of the Cileunyi--Sumedang--Dawuan toll road
Investment tender has been held twice for the Cileunyi-Sumedang-Dawuan toll road project but it failed to attract investors. The project will need 238.50 hectares of land.
Feasibility study and analysis of environmental impact (Amdal) of the project have been completed in 2004 by the Sumedang. District administration. It was estimated that the toll road would be used vehicles with 13,921 one way trips per day.
A MoU was already signed between the provincial and district/city administrations involved in the project on land clearing but legal study was still needed of his project by the government.
The length of the toll road to be built changed from 58.50 km to 60.10 km. The Cileunyi-Sumedang-Dawuan toll road project needs support from the central government in fund amounting to Rp1,599.8 billion including for land procurement amounting to Rp.536.800 and for construction Rp 1,063 billion.
The West Java provincial government agreed to provide support in the form of sunk cost for the land procurement 50% of the total cost of the land procurement. The government already made available US$ 100 million in Blue Book to support the toll road development.
Rp 4,660 billion. Cost of land changed from Rp 504.84 M to Rp 536.8 billion and cost of construction (including other costs) Rp 4,123.2 billion.
Status until October 2009:
Process of preparing auction, auction with the support in land fund and part of construction from the government /regional administrations.
The feasibility studies of the Medan-Kualanamu--Tebing Tinggi toll road project is prepared by Bina Marga (2005).
The North Sumatra provincial administration agreed to provide support in the form of handling land clearing.
The Medan-Kualanamu-Tebing Tinggi toll road project will be built by the government. Fund for the project is expected to be in foreign loans the government has sought to discuss loan with China and Kuwait. After the toll road has been completed, the government plans to offer its operation and maintenance to private sector.
Construction of the project will be by phases with the first phase the Medan-Lubuk Pakam-Kualanamu section.
A MoU has been signed between the North Sumatra administration and state plantation companies PTPN II, III and IV, which agreed to provide participation capital. The state plantation companies provided land clearing. Construction of the project is to start this year (2010).
Financing: support commitment from the regional administration for land worth Rp 264 billion.
Location: Medan-Kuala Namu-Tebing Tinggi
Length: 60 km
Investment: Rp 4,391 billion. Cost of land Rp 750 billion
Status until October 2009: Pre auction process
Progress of Development
Most of the toll road projects included in the development plan was still in the phase of land clearing until mid 2009. The investors for the projects have been available and have been listed in the Toll Road Development Agreement (PPJT). Until June 2009, most PPJT toll road projects were still in the phase of land clearing although the PPJT were already signed in 2006 and 2007.
Only JORR Section W1 with investor PT. Jakarta Lingkar Barat Satu had started the phase of construction to be operational in February 2010.
The contract for the Ciranjang--Padalarang toll road project was even cancelled in March 2008. It was formerly won by PT. Binapuri Nindyacipta Karyatama.
Meanwhile, some investors awarded toll road projects in 2007 refused to sign PPJT and delayed construction of their projects.
Among the project is the Serpong-Cinere dan Cimanggis-Cibitung toll road, which is a section of the JORR II. Its contractor is the consortium of Thiess-Waskita led by PT. Cinere Serpong Jaya which was named winner of the Rp 1.5 trillion contracts in late 2007 and 2009.
The consortium of PLUS Bakrie Global under PT. Cimanggis Cibitung Tollways, which won the Rp3.9 trillion contract for the Cimanggis-Cibitung project also refused to sign its PPJT.
PT Jasa Marga Tbk was reported planning to take over the two projects on recommendation from the government.
Meanwhile, Bakrie Toll Road secured the priority rights to acquire four toll road projects including Ciawi-Sukabumi, Pasuruan-Probolinggo, Pejagan-Pemalang, and Batang-Semarang.
Profile of toll road projects in acceleration program
The 116 km long Cikampek-Palimanan toll road would run through Cikopo, Kalijati, Subang, Cikedung, Kertajati, Sumber Jaya and Palimanan. The toll road is expected to help boost the economy of those areas.
The PPJT was signed on 21 July 2006 with a concession of 35 years. The financial close for the Cikampek--Palimanan toll road project was made on 18 July 2007.
The investment to be provided by the project owner PT Lintas Marga Sedaya (LMS) rose by Rp 500 billion from the original value as result of the delay in the schedule from early 2008 to June 2008. During the delay the prices of building materials such as cement and steel rose. The total value of the project swelled from Rp 7 trillion to Rp7.5 trillion.
The construction period will take around 2.5 years. The delay in the construction was caused by delay in land clearing. Originally work was to start in 2008 to be completed in 2009. However, the project had not been completed until early 2010.
PT. Lintas Marga Sedaya
Investment value: Rp 5,906 billion
Land clearing estimated at Rp 500 billion
The government improves system and facilitates infrastructure investment
The Law No 38 Year 2004 opens the opportunity for the private sector to be involved in the development of toll roads. Now financing could be handled jointly between the government and the private sector under Private Public Partnership (PPP) scheme
Financial difficulty has often caused a delay in the implementation of toll road projects. Almost half of 21 projects under construction have been delayed on funding problem.
In a bid to cope with the problem, the government issued a presidential decree No. 13/2010 in 2010 on infrastructure projects replacing the presidential regulation No. 67/2005 on PPP.
The regulation is considered more flexible and could cope with delay in the implementation of infrastructure project especially toll road projects.
Under the regulation, the government offers facilities for its partner under the PPP scheme.
Projects and its development plan are proposed by the private partners including feasibility study. If the proposals and plan are accepted, the initiator will be given incentive by the government with a 10% preference in the tender under which, the initiator taking part in the project tender will be named the winner even if its price is 10% higher than the lowest tender price.
Other incentives such as import tax exemption will be regulated by the finance minister.
One fundamental change is that the government allows transfer of share in infrastructure projects even of the projects have not been completed.
The regulation also guarantees financial compensation for the investors through PT. Penjaminan Infrastruktur Indonesia (PT. PPI). PT. PPI is a state company established on 30 December 2009.
PT PPI adds to the number of financial instrument agencies supporting the PPP program in the infrastructure sector established by the finance ministry such as those providing land capping fund, and land revolving fund for land clearing and PT Sarana Multi Infrastructure (SMl).
PT. SMI was established in April 2009 functioning as Infrastructure Fund, to support handling of infrastructure financing in Indonesia.
The two agencies and providers of funds are expected to be able to reduce financing costs of infrastructure under PPP through increase in credit worthiness of the projects.
The agency is backed up by multilateral agencies including the World Bank, which has pledged a loan fund of Rp 1.5 trillion.
Procedure of investment in toll road projects in Indonesia
The toll road authority in Indonesia is Toll Road Management Agency (BPJT). The agency prepares toll road investment process from preparation, tender, signing of PPJT, to implementation of the agreement.
Time needed for preparation until PPJT signing is around 20 months.
Toll Road Investment Procedure in Indonesia
Land Procurement Remains a Stumbling Block
Land procurement has often posed a stumbling block in the implementation of toll road projects.
Land acquisition cost is around 20%-25% of the total investment in toll road project. However, land speculation could push up the land cost to 30%-40% of the total investment.
Trans Java needs around 4,658 hectares of land. Until Nov. 2009, land clearing reached only 25% or 1,160 hectares.
Implementation of the Medan-Kualanamu-Tebing Tinggi toll road project valued around US$ 476 million has been delayed over land clearing.
Incentives for heads of sub-district (kecamatan) and lurah, the lowest level of the government administration, which are the most directly involved in handling land clearing and as the officials issuing land certificates are raised. The members of the Land Procurement Committee are full time officials.
Time needed for negotiations is cut from 120 days to 60 days.
Malaysia has more effective and efficient system of land procurement that that country implements its toll road projects faster. In Malaysia, after the location (route) has been determined, the right over the land will be cancelled that only price is left to be negotiated.
The land price for infrastructure projects in Indonesia as well as in Malaysia is set by an appraiser, which is an independent agency.
In Indonesia, when there is no agreement on price, and that consignment mechanism is opted, 100% of compensation money is deposited at district court that it is not easy for the land owner to move to other location.
In Malaysia, the government guarantees greater certainty for toll road investor. Land clearing is completed in six months or not more than one year. Investors may even demand compensation if land clearing is not completed in 7 or 8 months.
Land clearing for Trans Java reaches 30%.
Until January 2010, land clearing made for Trans Java toll road project reached 30% of the total land of 4,500 hectares needed.
There are still ten sections of the Trans Java toll road; totaling 652 kilometers have yet to be built. Two sections are under construction and eight other are still in the phase of land clearing. Early February this year the 35-kilometer section of Kanci-Pejagan was officially commissioned by the president.
8 toll road projects granted land capping facility
Among the facilities offered by the government for investors of toll road projects is land capping. These programs guarantee compensation for an increase in the cost of land clearing. The government will pay for the additional price if the price exceeds the platform agreed upon in the tender.
There are 8 projects (Batch IV) that have failed to attract investors. They include Pandaan--Malang, Medan--Binjai, Palembang--Indralaya, Teginenewng Babatan, Cileunyi--Sumedang--Dawuan, Medan--Kualanamu--Tebing Tinggi, Pasirkoja--Soreang, and Sukabumi--Ciranjang altogether to cost around Rp 18.64 trillion. The projects are included in the PPP program.
Earlier the government planned three options to handle the projects paying the entire cost of land clearing; handling the construction work in some of the projects already won by private investors or paying the entire cost of land clearing and doing construction of part of the projects already won by investors.
Toll fees in Indonesia are regulated under the Law No 38/2004 and PP No 15/2005. Under the two regulations there are two types of tariff--early tariff and adjustment tariff.
Early tariff is the fee set at the time of investment and the adjustment tariff is fee which is adjusted to current market prices or inflation. Tariff adjustment is made every two years.
In September 2009, the fees of 11 toll roads increased. The tariff of the Belawan-Tanjung Morawa--Medan toll road rose 11.11% from Rp 4,500 to Rp 5,000.
The increase rates are not the same in all areas depending on the inflation rates.
Toll roads of category I, the longest ones: Jagorawi, Padalarang--Cileunyi and Jakarta city toll roads from Rp 5,500 to Rp 6,500, Jakarta-Tangerang from Rp 3,500 to Rp 4,000, Palimanan--Kanci to Rp 8,000 from Rp 7,000; Surabaya-Gempol from Rp 3,500 to Rp4,000, Belawan-Tj Morawa from Rp 4,500 to Rp 5,000, Surabaya Gresik from Rp 7,000 to Rp 8,000; and the Tangerang-Merak rose from Rp 18,000 to Rp 28,500.
Increase is postponed for the fee for four toll roads--Cipularang, Serpong-Pondok Aren, Ujung Pandang Pahse I and II and the JORR S.
Prospects and Conclusion
Toll roads are vital in Indonesia to help support its economic development. Participation of the private sector in toll road development is absolutely necessary as the cash strapped government could not alone finance the projects, which require a huge investment.
The involvement of the private sector, however, necessitates revision of a number of regulations and establishment of a number of agencies to facilitate investors such as PT SMI to handle land clearing and PT PII to deal with financial compensation in the event of failure.
Land clearing has been the main factor delaying full implementation of toll road projects. The program of land capping is expected to attract investors.
The government also issued a policy in 2010 allowing toll road project to be transferred to other investors before the completion of the project.
Coordination between regional administrations and the central government especially in land clearing still need to be improved to be more effective. Development of access road to Tanjung Priok toll road was delayed over land clearing involving state company, which owned the land.
The government should address the fact that implementation of toll road projects has been delayed over a number of factors including financial difficulty, investors not yet ready and some projects are not commercially profitable.
Recently a number of investors form Kuwait, China and Brunei showed strong interest in investing in Pekanbaru--Dumai toll road project but later quit as they found the project was not profitable.
Table--1 Toll roads in operation and the operators, 2010 Length Length of of main access roads roads No. Toll roads (km) (km) A. Operated by PT. Jasa Marga 1 Jakarta-Bogor-Ciawi 50 9 2 Jakarta-Tangerang 27 6 3 Surabaya-Gempol 43 6 4 Jakarta-Cikampek 72 11 Palimanan--Kanci 26.3 5 Padalarang-Cileunyi 35.63 28.77 6 Prof. DR. 14.3 Soedyatmo 7 Jakarta's inner ring 23.55 road 8 Belmera 33.7 9 9 Semarang A,B,C 24.75 sections 10 Ulujami-Pondok 5.55 Aren 11 Cirebon-Palimanan 26.3 JORR W2 South (Pondok Pinang- Veteran) 12 JORR E1 South (Taman Mini- Hankam Raya) JORR E2 (Cikunir- 16.77 Cakung) 13 Cikampek- 17.5 Padalarang I 14 Cikampek- 41 Padalarang II 15 JORR E1-3, W2-S2, 14.35 E3, E1-4 16 South JORR 14.25 (Pondok Pinang- Taman Mini) 17 Suramadu Bridge 5.4 TOTAL 465.05 69.77 SUB TOTAL A 534.82 B. Operated by private sector 1 Tangerang-Merak 73 2 Ir. Wiyoto Wiyono, 15.5 Msc. 3 Surabaya-Gresik 20.7 4 Harbour Road 11.55 5 Ujung Pandang 6.05 Phase I 6 Serpong-Pondok 7.25 Aren 7 SS Waru- Juanda 12.8 Airport 8 Makassar Section IV 11.6 9 Bogor Ring Road Section I 11 10 Kanci--Pejagan 35 TOTAL 204.45 SUB TOTAL B 204.45 TOTAL A+B 739.27 No. Investors Start-up Description A. Operated by PT. Jasa Marga 1 PT. Jasa Marga 1978 PPJT 07/07/2006 2 PT. Jasa Marga 1983- PPJT 07/07/2006 1998 3 PT. Jasa Marga 1984 PPJT 07/07/2006 4 PT. Jasa Marga 1985 PPJT 07/07/2006 PT. Jasa Marga 5 PT. Jasa Marga 1986 PPJT 07/07/2006 6 PT. Jasa Marga 1986 PPJT 07/07/2006 7 PT. Jasa Marga 1988 PPJT 07/07/2006 8 PT. Jasa Marga 1989 & PPJT 07/07/2006 1996 9 PT. Jasa Marga 1987, PPJT 07/07/2006 1983 & 1998 10 PT. Jasa Marga 2001 PPJT 07/07/2006 11 PT. Jasa Marga 1998 PPJT 07/07/2006 1991 PPJT 07/07/2006 12 1998 PPJT 07/07/2006 PT. Jasa Marga 2001- PPJT 07/07/2006 2003 13 PT. Jasa Marga 2004 PPJT 07/07/2006 14 PT. Jasa Marga 2005 15 PT. Jasa Marga 2005 16 PT. Jasa Marga 1995- 1996 17 PT. Jasa Marga 2009 B. Operated by private sector 1 PT. Marga 1987- PPJT Mandala Sakti 1996 2 PT. Citra Marga 1990 PPJT 05/06/07 Nusaphala Persada 3 PT. Margabumi 1993- Process PPJT Matraraya 1996 4 PT. Citra Marga 1995- PPJT 05/06/07 Nusaphala 1996 Persada 5 PT. Bosowa 1998 Process PPJT Marga Nusantara 6 PT. Bintaro 1999 Process PPJT Serpong Damai PT. Citra 7 Margatama 2008 Operational Surabaya 27/04/2008 PT. Toll Road Operational 8 Seksi Empat 2008 26/09/2008 9 PT. Marga Operational Sarana Jabar 2009 November 2009 10 PT. Semesta Operational Marga Raya 2010 26/1/2010 Source: Toll Road Management Agency Table--2 Toll Road Development Plans Length No Toll roads (km) Year 1 Cikampek-Palimanan 116 2006-2009 2 Kanci--Pejagan 34 2006-2009 3 Pejagan--Pemalang 57.5 2006-2009 4 Pemalang--Batang 39 2006-2009 5 Semarang--Batang 75 2006-2009 6 Semarang--Solo 75 2006-2009 7 Solo--Mantingan--Ngawi 90.1 2006-2009 8 Ngawi--Kertosono 87.02 2006-2009 9 Kertosono--Mojokerto 41 2006-2009 10 Surabaya--Mojokerto 37 2006-2009 11 Gempol--Pasuruan 32 2006-2009 12 Pasuruan--Probolinggo 45 2006-2009 13 Cikarang--Tanjung Priok 33.92 2006-2009 TOTAL Trans Java 762.54 1 JORR Section 2 Utara 7 2006-2008 2 JORR Section E3 4.6 2005-2006 3 JORR Section E1 Utara 4.05 2005-2006 Section 4 4 JORR Section W1 9.70 2006-2008 5 Bekasi--Cawang-- 20.42 2006-2009 Kampung Melayu 6 Depok--Antasari 21.7 2006-2008 7 Cinere--Jagorawi 14.7 2006-2008 8 Cengkareng--Batuceper-- 15.22 2006-2009 Kunciran 9 Kunciran--Serpong 11.19 2006-2009 10 Serpong--Cinere 10.14 2006-2009 11 Cimanggis--Cibitung 25.39 2006-2009 12 Bogor Ring Road 11 2005-2008 13 SS Waru--Bandara Juanda 13.5 2006-2007 14 Waru (Aloha)--Wonokromo 12.8 2006-2009 --Tanjung Perak 15 Gempol--Pandaan 13.61 2006-2009 16 Pandaan--Malang 37 2006-2009 17 Ciranjang--Padalarang 33.30 2006-2009 18 Ciawi--Sukabumi 54 2006-2009 19 Makassar Section IV 11.6 2006-2007 Total Non Trans Java 330.62 TOTAL 1,093.46 No Description 1 PT. Lintas Marga Trans Java toll road Dwidaya 2 PT. Semedta Margaraya Trans Java toll road 3 PT. Pejagan Pemalang Trans Java toll road Toll Road 4 PT. Pemalang-- Trans Java toll road Batang Toll Roads 5 PT. Marga Detiapuritama Trans Java toll road 6 PT. Jasa Marga Trans Java toll road 7 Trans Java toll road 8 Trans Java toll road 9 PT. Marga Hanurata Trans Java toll road Instrinic 10 PT. Marga Nujyadmo Trans Java toll road Agung 11 PT. Jasa Marga Trans Java toll road 12 PT. Bukaka Teknik Utama Trans Java toll road 13 MTD--Nusa Cipta Trans Java toll road 1 PT. Jasa Marga Non Trans Java (Jabodetabek) 2 PT. Jasa Marga Non Trans Java (Jabodetabek) 3 PT. Jasa Marga Non Trans Java (Jabodetabek) 4 PT. Jalantol Non Trans Java Lingkarluar Baratsatu (Jabodetabek) 5 PT. Kresna Kusuma Non Trans Java Dyandra Marga (Jabodetabek) 6 PT. Citra Non Trans Java Waspputhowa (Jabodetabek) 7 PT. Trans Lingkar Kita Non Trans Java Jaya (Jabodetabek) 8 -- Non Trans Java (Jabodetabek) 9 -- Non Trans Java (Jabodetabek) 10 -- Non Trans Java (Jabodetabek) 11 -- Non Trans Java (Jabodetabek) 12 PT. Jasa Marga Non Trans Java (Jabodetabek) 13 PT. Citra Margatama Non Trans Java Surabaya (East Java) 14 PT. Margaraya Jawa Non Trans Java Tol (East Java) 15 PT. Margabumi Non Trans Java Adhikarya (East Java) 16 PT. Setdco Instrinsic Non Trans Java Nusantara (East Java) 17 Bina Puri Holding, Bhd Non Trans Java (West Java) 18 PT. Bukaka Teknik Non Trans Java Utama (West Java) 19 PT. Jalan Tol Section Non Trans Java Empat (Sulawesi) Source: Toll Road Management Agency, processed Table--3 Toll road projects ready for tender Length Cost of land Investment No Toll road (km) (Rp. M) (Rp. M) 1. Medan--Binjai 15.80 256.00 1,093.05 2. Palembang-- 22.00 64.06 1,052.90 Indralaya 3. Tegineneng-- 50.00 268.49 2,726.77 Babatan 4. Pandaan-- 37.62 293.20 2,529.75 Malang SUB TOTAL A 125.42 881.75 7,402.47 5. Cileunyi-- 58.50 504.84 3,945.66 Sumedang-- Dawuan 6. Medan-- 60.00 750.00 4,391.83 Kualanamu-- Tebing Tinggi 7. Pasirkoja-- 15.00 244.90 1,021.51 Soreang 8. Sukabumi-- 28.00 158.89 1,855.79 Ciranjang 9. Menado-- 46.00 765.00 5,612.06 Bitung 10. Pekanbaru-- 135.00 474.56 8,446.13 Kandis--Dumai 11. Serangan-- 7.50 58.08 1,489.38 Tanjung Benoa SUB TOTAL B 350.00 2,956.27 26,762.36 No Status June 2009 Description 1. No participant pass Tender without pre-qualification government's selection, Feasibility assistance evaluation with the government's support 2. No participant pass Tender without pre-qualification government's selection, Feasibility assistance evaluation with the government's support 3. No participant pass Tender without pre-qualification government's selection, Feasibility assistance evaluation with the government's support 4. 3 bidders passing Tender without initial selection not government's meeting assistance requirements (2 bidder passing), Feasibility evaluation with the government's support 5. Feasibility evaluation Process of offering with the government's land procurement support and construction assistance from the central government 6. Feasibility evaluation Process of offering with the government's land procurement support and construction assistance from the central government 7. Feasibility evaluation Process of offering with the government's land procurement support and construction assistance from the central government 8. Feasibility evaluation Process of offering with the government's land procurement support and construction assistance from the central government 9. Proposed to be built Process of offering by the government and land procurement to be operated by and construction private company assistance from the central government 10. Proposed to be built Development offer by by the government and the government and to to be operated by be operated by private company individual/private sector 11. Proposed to be built Development offer by the government and by the government and to be operated by to be operated by private company individual/private sector Source: Toll Road Management Agency Table--4 Progress in development of toll road projects having PPJT Length Investment No Toll roads (KM) (Rp. B) 1 Cikampek-- 116.00 5,906.27 Palimanan 2 Pejagan--Pemalang 57.50 3,235.81 3 Pemalang--Batang 39.00 2,292.90 4 Semarang--Batang 75.00 3,634.64 5 Surabaya--Mojokerto 34.05 2,952.61 6 Kertosono--Mojokerto 41.65 2,211.72 7 Gempol--Pasuruan 33.75 1,800.00 8 Pasuruan--Probolinggo 45.32 3,314.60 9 JORR W2 Utara 7.00 1,411.00 10 JORR Section W1 9.85 1,628.00 11 Cinere--Jagorawi 14.70 1,867.05 12 Depok--Antasari 21.55 2,515.92 13 Kunciran--Serpong 11.19 1,847.00 14 Cengkareng--Batu 15.22 1,108.60 Ceper--Kunciran 15 Bekasi--Cawang-- 21.04 6,185.00 Kp.Melayu 16 Cikarang (Cibitung)-- 34.50 2,358.00 Tj. Priok (Cilincing) 17 Ciawi--Sukabumi 54.00 4,923.70 18 Semarang--Solo 75.70 6,135.00 19 Gempol--Pandaan 13.61 826.00 20 Waru (Aloha)-- 17.72 6,491.33 Wonokromo--Tg.Perak TOTAL 771.35 67,146.95 No Investors PPJT signed Status by June 2009 1 PT. Lintas Marga Sedaya 21/07/06 Land procurement 2 PT. Pejagan Pemalang 21/07/06 DED & Land procurement Tol Road 3 PT. Pemalang Batang 21/07/06 DED & Land procurement Tol Road 4 PT. Marga Setiapuritama 21/07/06 DED & Land procurement 5 PT. Marga Nujyasumo 06/04/06 Land procurement, Agung Construction, Altogether 2010 6 PT. Marga Hanurata 30/06/06 Land procurement Intrinsic & Construction 7 PT. Jasa Marga 29/05/06 Land procurement 8 PT. Trans-Java Paspro 25/06/07 Preparation for Toll road land procurement 9 PT. Jasa Marga 07/07/06 Review DED & Land procurement 10 PT. Jakarta 02/02/07 Construction Lingkar Baratsatu 11 PT. Trans 29/05/06 Land procurement Lingkar Kita Jaya 12 PT. Citra Wassphutowa 29/05/06 Land procurement 13 PT. Marga Trans 22/09/08 Preparation for land Nusantara procurement & DED 14 PT. Marga Kunciran 2/3/2009 Preparation for land Cengkareng procurement 15 PT. Kresna Kusuma 22/02/07 Land procurement Dyandra Marga 16 PT. MTD--CTP 29/01/07 DED & Land procurement Expressways 17 PT. Trans Jabar Tol 27/07/07 Preparation for land procurement & DED 18 PT. Trans Marga Jateng 15/12/06 Land procurement & Construction 19 PT. Margabumi 19/12/06 Land procurement Adhikaraya 20 PT. Margaraya Java Tol 19/07/07 Preparation for land procurement TOTAL Source: Toll Road Management Agency Table--5 Toll road projects and investors refusing to sign PPJT Cost of Length land Investment No Toll road (KM) (Rp. M) (Rp B) 1. Serpong-- 10.14 647.70 1,717.50 Cinere 2. Cimanggis-- 25.39 933.10 3,131.76 Cibitung TOTAL 35.53 1,580.80 4,849.26 Description & No June 2008 Winner 1. Winner named on PT. Cinere 5 Nov. 2007 Serpong Jaya 2. Winner named on PT. Cimanggis 17 Sept. 2009 Cibitung Tollways Source: Toll Road Management Agency Table--Financing of Cikampek--Palimanan Toll Road Bank Position of Value % financing Bank Mandiri (lead manager) Rp.1. 6 T (32%) BCA (lead manager) Rp.1. 2 T (24%) BNI (CO lead manager) Rp.490 M (9. 8%) BRI (CO lead manager) Rp.410 M (8. 2%) Bank Panin (manager) Rp.410 M (8. 2%) Bank Jabar (manager) Rp.325 M (6. 5%) Bank Bukopin (manager) Rp.205 M (4. 1%) Bank Jatim (manager) Rp.125 M (2. 5%) BII (manager) Rp.125 M (2. 5%) Bank DKI (manager) Rp.110 M (2. 2%) Source: Toll Road Management Agency
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|Publication:||Indonesian Commercial Newsletter|
|Date:||Jan 1, 2010|
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