This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - Bangun tol elevated, Citra Marga raih pendanaan Rp600 miliar
2 January 2024
Jakarta, ID – An issuer belonging to Jusuf Hamka, PT Citra Marga Nusaphala Tbk (CMNP), received a loan of Rp600 billion from PT Bank Capital Indonesia (BCI). The fresh fund will be used by the company to finance the development of the Harbour Road II (Elevated) Section of Ir. Wiyoto Wiyono, M.Sc Toll Road from East Ancol to Pluit spanning 9.6 km.
CMNP Independent Director Hasyim said that the funding facility was secured through two different schemes. The initial scheme entails Rp50 billion as a current account loan, carrying a one-year term from the credit agreement and an interest rate of 13%. The second scheme involves Rp550 billion as a money market acceptance loan, also holding a one-year term from the credit agreement, with an interest rate of 13%..
“The purpose of both loans is to finance the construction of the Harbour Road II (Elevated) Section of Ir. Wiyoto Wiyono, M.Sc Toll Road from East Ancol to Pluit spanning 9.6 km. Hence, it is expected to strengthen the financial condition and the business continuity of the company,” Hasyim said in his official statement on Monday (1/1/2024).
In the HBR II project that has been implemented since 2021, CMNP is constructing the Harbour Road II Section of Ir. Wiyoto Wiyono, M.Sc Toll Road from East Ancol to Pluit spanning 9.6 km using the elevated concept. Until October 2023, the realisation of the project has reached 9.43%. The progress is set to reach 12.43% in December 2023. In December 2024, the toll road construction progress will reach 42.62%.
Until now, CMNP has completed on/off ramp 1-2 at Papanggo Toll Gate that is part of the Cawang-Tanjung Priok-East Ancol-Jembatan Tiga/Pluit toll segment. Papanggo Toll Gate can be an alternate access for road users to go to Soekarno-Hatta Airport and Pluit. Moreover, it can also be an exit from Warakas that is an alternate access to Jakarta International Stadium (JIS).
