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Jakarta Post

Chinese company provides Rp 23.3 trillion in direct equity investment for toll road construction

  • Riza Roidila Mufti

    The Jakarta Post

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Jakarta   /   Tue, October 15, 2019   /  04:31 pm
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Workers continue work on the Cimanggis-Cibitung toll road on Jl. Cibubur Alternatif in Bekasi, West Java. PT China Communications Construction Indonesia (CCCI) will provide Rp 23.3 trillion in direct equity investment for construction of a toll road linking Probolinggo and Banyuwangi in East Java.(JP/P.J. Leo)

Five companies have signed two separate agreements covering cooperation in the construction of a toll road and in supply chain financing with a total investment commitment of Rp 29.3 trillion (US$2.07 billion). The first agreement was signed on Monday by state-owned toll road operator PT Jasa Marga and PT China Communications Construction Indonesia (CCCI) for the construction of a toll road that will link Probolinggo and Banyuwangi in East Java, with a total investment of Rp 23.3 trillion. The second agreement was signed by PT Wijaya Karya and PT Jasa Sarana with PT ICDX Logistik Berikat (ILB) for customized supply chain financing in construction worth Rp 6 billion. Both cooperation agreements were facilitated by the Center for Private Investment (PINA). National Development Planning Minister Bambang Brodjonegoro said under the first agreement, PT Jasa Marga received a direct eq...