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Big conglomerates expand to toll road projects

Rabu, 30 November 2016 / 11:24 WIB
Big conglomerates expand to toll road projects

Reporter: Dina Mirayanti Hutauruk | Editor: Barratut Taqiyyah Rafie

JAKARTA. The toll road business becomes more attractive to conglomerates. Recently, Salim Group, Agung Sedayu Group, and Alam Sutera Group will involve in the business.

Salim Group and Agung Sedayu Group will cooperate to work on a length of 48.3 km toll road project of Kamal-Teluknaga-Balaraja lane. The project is expected to cost Rp 18 trillion investment. Meanwhile, Alam Sutera will invest Rp 11.31 trillion to construct a length of 31.7 km Semanana-Balaraja toll road lane.

Head of Toll Road Regulator (BPJT) Herry Trisaputra Zuna confirmed that the two consortiums have submitted the results of the feasibilities studies to the Directorate General of Bina Marga. Head of Sub Directorate of Free Way at the Ministry of Public Work and People’s Housing Hari Suko said that the institution is still evaluating the initiative documents of the projects. The evaluation is expected to complete in December 2016. “If it is feasible, the locations will be determined immediately,” he told KONTAN, Tuesday (29/11).

The Semanan-Balaraja toll road project is expected to be connected with Serpong-Balaraja toll road, as well as six lanes of Jakarta inner city toll roads, while the Kamal-Teluknaga-Balaraja toll road will be connected to Sedyatmo toll road, which is connected to Soekarno-Hatta Airport.

According to Harry, usually, the toll road projects involve the old hands in the business. “The only novice is Sinar Mas Group, which works on Serpong-Balaraja toll road,” he said.

The expansions do not necessarily hamper the old players to target new projects. For an example, Astra Group, which owns five toll roads lanes with a total length of 226.7 km. “We target to occupy 500 km toll roads by 2020,” said President Director of PT Astratel Nusantara (the infrastructure business line of Astra Group) Wiwiek DS.

The business expansion of Astra is a part of the efforts to balance and complete its business portfolio.

Indeed, out of several business groups, Citra Marga is the pioneer in the business. The business group, which was formed by Siti Hardiyanti Rukmana, has involved in the business since 1980’s decade.

Director Head of Research and Consultancy of Savills Indonesia Anton Sitorus said that the toll road business requires a huge amount of capital. Aside of the large capital, any company that wants to involve in this business has to be supported with other complementary business lines, such as property.

Some business groups, such as Bakrie Group and MNC Group have failed to run the project of Ciawi-Sukabumi toll road. To date, the project has been managed by PT Trans Jabar Tol.

(Muhammad Farid/Translator)