JAKARTA (TheInsiderStories) – Indonesian toll road operator, PT Jakarta Tollroad Development (JTD) signed a syndicated loan agreement worth of Rp13.7 trillion (US$931.27 million). The loan agreement involving 29 Joint Mandated Lead Arranger & Book-runners.

According to JTD’ Managing Director Frans Sunito, this loan will be used to finance the construction of Semanan – Sunter and Sunter – Pulo Gebang sections, which are part of the six inner-city toll road segments in Jakarta Great Area.

He added, that the construction of phase 1, starts from Section A (Kelapa Gading – Pulo Gebang) began since January 2017 and is planned to be completed and operational in the second half of 2019. Its expecting the whole phase 1 will operate in 2021.

“The credit agreement signed today is also a syndication involving 29 the most conventional and sharia-based banking institutions,” added by JTD Chief Financial Officer Reynaldi Hermansjah.

He continued, that the toll road section built by JTD aims to increase the capacity of existing arterial road networks and to serve smoother and better traffic. All road structures are built with elevated construction, or built on existing arterial roads, as well as infrastructure that has been built before, said Hemansjah.

He also mentioned toll road sections built by JTD are also designed to minimize land acquisition and maximize the utilization of existing urban infrastructure space. The toll road segment will also provide various integrated facilities that make it easier for users to access public transportation facilities.

Then, he added, the Bus Rapid Transit (BRT) on the toll road system was the first designed in Indonesia, namely the toll road which was equipped with bus shelter along its corridor. This BRT is accommodated with three corridors, the Blue Line, Red Line, and Green Line. BRT also serves long distance trips with a distance between shelters of approximately three to four kilometers.

He said, the toll road built by JTD had also calculated the level of lighting and propriety and environmental friendliness. Later, the clearance level will be as low as 11.5 meters to accommodate sufficient lighting levels.

“Infiltration wells are also uniquely built for optimal absorption of ground water, while making the construction of this toll road friendly to soil conditions and the environment,” he said.

Six toll roads that are being and will be built are Semanan-Sunter, Sunter-Pulo Gebang, Duri Pulo-Kampung Melayu, Kemayoran-Kampung Melayu, Ulujami-Tanah Abang, and Pasar Minggu-Kasablanka around the Jakarta areas. The total length of these six toll roads reaches 69.6 kilometers.

The total of these six toll roads costs investment costs of Rp41.1 trillion. The construction costs Rp20.62 trillion and the land cost was Rp5.48 trillion. JTD has obtained the toll road project construction contract through the Toll Road Concession Agreement on July 25, 2014.

JTD is a joint venture of 12 companies, including PT Jaya Real Propertindo Tbk (IDX: JRPT), PT Pembangunan Jaya Ancol Tbk (IDX: PJAA), PT Jaya Konstruksi Manggala Pratama Tbk, and PT Citra Marga Nusaphala Persada Tbk (IDX: CMNP).

In addition there are also three State-Owned Enterprises as shareholders namely PT Wijaya Karya Tbk (IDX: WIKA), PT Adhi Karya Tbk (IDX: ADHI), and PT Hutama Karya.

US$1: Rp14,700

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