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Manado-Bitung Toll Road Project Also Funded by BNI.

PT Bank Negara Indonesia Tbk (BNI) has participated in financing the Manado-Bitung Toll Road Project. The project is carried out by PT Jasamarga Manado Bitung (JMB), a consortium of three state-owned enterprises (SOEs) of PT Jasa Marga, PT Wijaya Karya, and PT Pembangunan Perumahan.

BNI's funding for the toll road development project is in the form of additional Working Capital Credit (KMK) and Land Acquisition Fund (DTT) amounting to a maximum of Rp623.56 billion. The KMK and DTT from BNI added to a similar funding facility disbursed in 2017, supported by a BNI's subsidiary, with maximum amount of Rp816 billion.

The KMK and DTT agreement was signed by BNI and PT Jasamarga Manado Bitung in Jakarta on Tuesday (7/17). The signing ceremony was attended by Jasa Marga Finance Director Donny Arsal, Managing Director of PT Jasamarga Manado Bitung George IMP Manurung, and General Manager for SOEs and Government Institutions Division of BNI AAG Agung Dharmawan.

The 39.9-kilometer toll road is the first one operating in North Sulawesi province with a concession period of 40 years. The BNI's portion in the Investment Credit (KI) scheme is Rp652 billion or equivalent to 18.2 percent of the syndicated banking loan of Rp3.59 trillion.

Agung Dharmawan said that BNI added the KMK and DTT financing facility for the project amounting to Rp623 billion, bringing the total fund to Rp992 billion. 'If it is added with the Investment Credit (KI) facility from BNI, PT Jasamarga Manado Bitung will get a total fund of Rp1.6 trillion,' he added.

The total investment needed to built the Manado-Bitung Toll Road, according to him, is Rp5.12 trillion. About 70 percent of the fund or amounting to Rp3.59 trillion will be sourced from the syndicated banking loan, including from BNI.

The KMK and DTT facility is also provided by BNI's subsidiary of BNI Syariah. The KI facility is provided by a syndication of BNI, Bank Mandiri, BCA, PT Sarana Multi Infrastuktur, ICBC Indonesia, BPD Sulselbar, BPD Riau, and Bank Jateng.

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Publication:The President Post (Jakarta, Indonesia)
Geographic Code:9INDO
Date:Aug 31, 2018
Previous Article:Construction of Kunciran-Serpong Toll Road to be Completed in January 2019.
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