Photo by BNI

JAKARTA (TheInsiderStories) – PT Bank Negara Indonesia Tbk (IDX: BBNI) leads a syndicated loan amounting to Rp3.2 trillion for the financing of the construction of Pemalang – Batang toll road project in Central Java. The total cost to develop the toll road reaches Rp4.88 trillion.      

BNI together with 15 banks signed the loans facility for PT Waskita Karya Tbk (IDX: WSKT) and PT Pemalang Batang Tol Road as the operator of the toll road on Wednesday. Based on the press statement issued by the bank, BNI contributes Rp 1.5 trillion to the total syndicated loan.

The 15 other banks taking part  in the syndicated loan are PT Bank Panin Tbk (IDX: PNBN), PT Bank Artha Graha Tbk (IDX: INPC), PT BNI Syariah) and regional banks.

Vice President Director of BBNI Herry Sidharta revealed that the syndicated loans agreement implies the growing interest of the banking sector to provide financing to the strategic infrastructure projects. 

Pemalang -Batang Toll Road has a total length of 39.29 kilometers, connecting Pemalang, Pekalongan, and Batang in Central Java. The projects is an important part of the Trans Java Road Network, which is included in the National Strategic Project Acceleration list targeted to fully operate by 2018.

The groundbreaking of the project construction was officiated by President Joko Widodo at the toll gate Pasekaran Village, Batang, Central Java, on June 17, 2016. (*)

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