PT Astra International Tbk (IDX: ASII), through its unit, PT Lintas Marga Sedaya (ASTRA Tol Cipali) has officially started the construction of Kertajati West Java International Airport access toll road - Photo by the Company

JAKARTA (TheInsiderStories) – Indonesian conglomeration company, PT Astra International Tbk (IDX: ASII), through its unit, PT Lintas Marga Sedaya (ASTRA Tol Cipali) has officially started the construction of Kertajati West Java International Airport (BIJB) access toll road. The construction of this toll road costs Rp692 billion (US$47.07 million) and the groundbreaking was carried out on Monday (09/07).

To finance the projects, the unit has raised syndicated loans lead by PT Bank Central Asia Tbk (IDX: BBCA) with PT Sarana Multi Infrastruktur, PT Bank Panin Tbk (IDX: PNBN), PT Bank Mandiri Tbk (IDX: BMRI), PT Indonesia Infrastructure Finance, PT BPD Jawa Barat and Banten, PT Bank DKI and PT Bank ICBC Indonesia.

Group CEO of ASTRA Infra, Djap Tet Fa, said the BIJB access toll road is directly connected to the Cikopo – Palimanan Toll Road and directly with the Kertajati airport. Later, the toll road access will also be connected with the Cisumdawu Toll Road, which connects Bandung City and its surrounding areas.

This paid road is built with a length of 3.7 kilometers with a width of 3.6 meters and has four lanes for two directions. According to him, the construction process for the toll road is predicted around 12 months and is expected to be operational in November 2021.

The construction of the toll road was carried out by ASTRA Infra Solutions along with PT Acset Indonusa Tbk (IDX: ACST), PT PP Tbk (IDX: PTPP), PT Mitrapacific Consulindo International, and PT Eskapindo Matra. Acset Indonusa is the main contractor for the construction of the the project.

The subsidiary of mining issuer, PT United Tractors Tbk (IDX: UNTR), will work on toll road projects with length of 1.5 kilometers and contract values of Rp260 billion. According to the president director, Idot Supriadi, that the construction of the access toll road is a form of synergy for Astra Group companies.

The company is also actively collaborating in the construction of several projects owned by the Astra Group. A number of works include the addition of lanes for the Balaraja Barat-Cikande section on the Tangerang-Merak toll road and additional lanes at the Balaraja Timur and West Cilegon toll gates.

US$1: Rp14,700

Written by Editorial Staff, Email: theinsiderstories@gmail.com