TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Regulation prepared to assign Hutama Karya as Tanjung Priok toll-road operator
Change Size
A toll road heading toward Tanjung Priok Port in North Jakarta. (Antara/Agung Rajasa)
T
he government is preparing a government regulation (PP) to appoint state construction firm Hutama Karya as the operator of a toll road going toward Tanjung Priok, North Jakarta.
The move was made to strengthen Hutama Karya’s equity so the company could commence the trans-Sumatra mega project, for which it needs Rp 52.6 trillion (US$3.95 billion) in equity for the first eight sections alone.
“The process should be fast,” Public Works and Public Housing Ministry’s Bina Marga director general, Arie Setiadi Moerwanto, said on Wednesday.
(Read also: Tanjung Priok toll road management concession may go to Hutama Karya)
The move is estimated to provide Hutama Karya with Rp 4.5 trillion from a bond issuance with the toll road as the underlying asset, in a securitization-like scheme. “So the company can generate more loans,” Arie added.
However, he said the toll road could operate before the regulation was issued, with possible temporary operation by state construction Jasa Marga, before being handed over to Hutama Karya.
Previously, Public Works and Public Housing Minister Basuki Hadimuljono said the operation transfer of the toll road section, from the government to Hutama Karya, would have be ruled through a presidential regulation. (bbn)
