Toll road operator, PT Jasa Marga Tbk' (IDX: JSMR) consortium have submitted pre-qualification documents to participate in the tender for the Gedebage - Tasikmalaya - Cilacap toll road, the longest toll road project in Java Island - Photo by the Company

JAKARTA (TheInsiderStories) – Toll road operator, PT Jasa Marga Tbk‘ (IDX: JSMR) consortium have submitted pre-qualification documents to participate in the tender for the Gedebage – Tasikmalaya – Cilacap toll road, the longest toll road project in Java Island. The project is estimating need costs Rp57.59 trillion (US$3.89 billion).

The consortium consist of Jasa Marga with ownerships 60 percent, PT Daya Mulia Turangga 20 percent, PT PP Tbk (IDX: PTPP) and PT Jasa Sarana hold 10 percent, each. These toll road project is an unsolicited project with the right to match offers.

Based on the official data, the toll projects will have 10 interchanges and two lanes will operates in 2024. The new roads is an extension of the Cileunyi – Garut – Tasikmalaya toll road in West Java with total length of 206.65 kilometers (km).

Previously, the builder (25 percent) also participated in the Kulon Progo – New Yogyakarta International Airport Toll Road project joined with Daya Mulia Turangga-PT Gama Group (51 percent) and PT Adhi Karya Tbk (IDX: ADHI) hold 24 percent. The parties have signed a Toll Road Concession Agreement, a Guarantee Agreement, and a Regress Agreement for the project on Sept. 9.

The toll road has a length of 96.57 km with an investment value of Rp26.6 trillion with a concession period of 40 years. The roads will cross Yogyakarta along 60.93 km and 35.64 km in Central Java. This toll road is targeted to be operated in stages starting 2023 and will be fully operational in 2024.

US$1: Rp14,800

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