Nusantara Infrastructure consortium seeking Rp5 trillion loan
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 - Konsorsium Nusantara Infrastructure cari pinjaman Rp5 triliun
18 October 2023
Jakarta - The consortium of PT Marga Metro Nusantara (MMN) that is a subsidiary of PT Nusantara Infrastructure Tbk (META), PT Adhi Karya Tbk (ADHI), and PT Acset Indonusa Tbk (ACST) will look for a loan of more than Rp5 trillion to fund Cikunir-Ulujami Jakarta Outer Ring Road Elevated (JORR-E). The project that is worth Rp21 trillion will be carried out through a joint venture that has been established by the three companies, which is PT Jakarta Metro Expressway (JKTMetro).
Nusantara Infrastructure Director Omar Dani Hasan said that his company would look for a domestic or an international bank loan to fund the project. “Later, the composition will be 70% loan and 30% the company’s internal cash. The loan will surpass Rp5 trillion,” Dani said, who is also the president director of JKTMetro, during the press conference in Jakarta on Tuesday (17/10/2023).
Dani revealed that Cikunir-Ulujami JORR E spanning 21.6 km would be constructed with an investment cost of Rp21.26 trillion. The toll road will be fully elevated above the existing JORR with 2 x 2 lanes that are 3.5 metres wide.
JKTMetro has received the concession of JORR-E that will last up to 45 years starting from the issuance of the work start order (SPMK). The guarantee agreement on Cikunir-Ulujami JORR E was signed by PT Penjaminan Infrastruktur Indonesia (PII) President Director M. Wahid Sutopo who provides the government guarantee and PT Jakarta Metro Ekspressway President Director Omar Dani Hasan as the toll road business enterprise established by the tender winner, which is the consortium of PT Marga Metro Nusantara, PT Adhi Karya, and PT Acset Indonusa. Meanwhile, the regress agreement was signed by Public Works and Housing (PUPR) Minister Basuki Hadimuljono as the person in charge of the cooperation project (PJPK) and PT PII President Director M. Wahi Sutopo.
Meanwhile, PUPR Minister Basuki Hadimuljono said that the number of toll roads was not sufficient to pursue the dream of an advanced Indonesia in 2045. Hence, the number of toll roads in Indonesia must be increased to improve connectivity.
“Currently, Indonesia has 71 toll segments spanning 2,800 kilometres. That number is nothing,” Basuki said.
Basuki asked JKTMetro to pay attention to the governance, quality, and aesthetics of Cikunir-Ulujami JORR-E. “I am asking everyone to improve the governance to be better and cleaner. No markup, no corruption. The aesthetics of the toll road must also be improved. Always pay attention to the environment and increase greeneries. I want Cikunir-Ulujami JORR-E to be a pilot project or an example of a better and a more advanced toll road,” he said.
