Toll road operator takes out Rp 30.03t in syndicated loans over one year

INFRASTRUCTURE PROJECTS - JAKARTA. State-owned toll road operator PT Jasa Marga has taken out syndicated loans worth Rp 30.03 trillion (US$2.11 billion) over one year to finance a number of projects, namely the Kunciran-Serpong toll road, the elevated Jakarta-Cikampek toll road, the Bogor ring road, the Balikpapan-Samarinda toll road and the Batang- Semarang toll road.

In addition, the company was also seeking out alternative financing through private equity funds (RDPT) in an attempt to reduce its dependency on debt-based financing, said Jasa Marga corporate secretary M Agus Setiawan in Jakarta on Monday.

“With this move, the company will be able to maintain its healthy financial condition, while it will also be able to continue its expansion,” he said as reported.

Agus said the company had also pursued innovation, such as integrating payments for a number of toll roads such as the Jakarta outer ring road (JORR), the Semarang-Surakarta toll road as well as sections A, B and C of the Semarang toll road.

The toll road operator is now also conducting a trial of a single land free flow (SLFF) system along the Bali-Mandara toll road using radio frequency identification (RFID) operated by Jasa Marga’s subsidiary PT Jasamarga Tollroad Operator (JMTO).

In the new system, vehicles do not need to stop to pay the toll, instead a device in the vehicle is automatically connected by radio frequency with a devise on the toll road.

The trial in Bali, which involved Blue Bird taxis, was conducted in preparation for the implementation of the SLFF payment system on other major toll roads, he said, adding that Jasa Marga would also conduct the same trial on the Sedyatmo toll road in Jakarta involving vehicles owned by Garuda Indonesia.