Semarang Toll Road is part of the Trans Java Toll Toad to connects the city - Photo by Jasa Marga

JAKARTA (TheInsiderStories) – After operating the Trans Java toll road, publicly listed PT Jasa Marga Tbk (IDX: JSMR) immediately stepped out to get a new toll road projects by participating in a number of toll road tenders, said the chief executive last week.

To fund the planned and build the existing toll road, said the CEO Desi Arryani quoted by Kontan, the state-owned toll road operator prepared capital expenditure (capex) Rp27 trillion (US$1.86 billion) in this year. According to her, there are several toll roads targeted by Jasa Marga in 2019.

Among them are Semarang-Demak toll road in Central Java and Gedebage-Tasikmalaya toll road in West Java. For the Semarang-Demak Toll Road project, the company formed a consortium together with state-owned developers PT Waskita Karya Tbk (IDX: WSKT) and PT Brantas Abipraya.

Other funds will use for the development of the Jakarta Outer Ring Road 2 with a length of 35.5 kilometers (km), Kunciran – Serpong 11.20 km, Serpong – Cinere 10.1 km, Jakarta – Cikampek II Elevated 36.4 km around the Greater Jakarta, and Pandaan-Malang toll road with 38.48 km.

In addition, Jasa Marga will also complete several parts of the Medan-Kualanamu-Tebing Tinggi toll road in North Sumatera for 9.1 km, Balikpapan-Samarinda toll road in East Kalimantan along 99.4 km, and also 39.9 km of Manado-Bitung toll roads in North Sulawesi, said Arryani.

Beside toll roads, Jasa Marga also intends to develop the area on the toll road corridor through its subsidiary, PT Jasamarga Properti, which is engaged in the property sector. The unit has signed an agreement with other property developers, PT Puradelta Lestari Tbk (IDX: DMAS)  and PT HK Realtindo to develop the area in the Jakarta-Cikampek South Toll Road Corridor.

According to director of Jasa Marga Adrian Priohutomo, the three companies aimed to develop a property business in Sentul, Bogor, with a potential development area of approximately 120 hectares.
In addition, the companies planned to develop a property area in other toll road corridors such as the Pandaan-Malang Toll Road corridor in East Java, Depok-Antasari Toll Road in West Java, and other potential corridors.

Email: linda.silaen@theinsiderstories.com

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