Photo: Bank Negara Indonesia

JAKARTA (TheInsiderStories) – Seven major banks give credits Rp8 trillion (US$592.59 million) for state-owned toll operator PT Hutama Karya to finance Bakauheni-Terbanggi Besar toll road project (part of the Trans Sumatra Toll Road), said the company on Dec. 27. The toll road project itself requires investment of Rp16.8 trillion and along 140.9 kilometers with a concession period of 40 years since 2015 until 2055. In the syndicated loan agreement, PT Bank Negara Indonesia Tbk (IDX: BBNI) acted as Joint Mandated Lead Arrangerand Book Runner as well as Facility Agent. The banks are also involved in the syndicated financing of PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Centra Asia Tbk (IDX: BBCA), PT Maybank Indonesia Tbk (IDX: BNII), PT CIMB Niaga Tbk (IDX: BNGA), ICBC, PT Bank Permata Tbk (IDX: BNLI), and PT Sarana Multi Infrastruktur. Hutama as the contractor gets the assignment from the government to build and develop the Trans Sumatra Highway through Presidential Decree No. 100 of 2014 in conjunction with Presidential Decree No. 117 2015.