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Thursday, March 08, 2007

Banks Provide Rp7.6 Trillion for Toll Road

Thursday, 08 March, 2007 | 14:40 WIB

TEMPO Interactive, Jakarta: PT Bank Mandiri, PT Bank Negara Indonesia and PT Bank Rakyat Indonesia will provide Rp7.6 trillion in loans for PT Jasa Marga.

The funds will be used to build three toll roads, Semarang-Solo, Gempol-Pasuruan and the Bogor Outer Ring Road.

The Rp7.6 trillion financing will be provided by Mandiri with 40 percent, BNI 35 percent and BRI 25 percent using the club deal method..

Under the club deal method, none of the creditor banks is the leader, which means that an agreement is signed by Jasa Marga with each creditor.

Agus Martowardojo, Bank Mandiri’s Managing Director, said that the disbursement was a form of the bank’s support in developing toll roads.

“The loan agreement has now been signed, so what’s left now is the land acquisition,” he said in Jakarta yesterday (7/3).

According to Agus, two out of three toll roads to be financed, Semarang-Solo and Gempol-Pasuruan toll roads are part of the Trans-Java toll road development. “

We hope that with this financing, the Trans-Java toll road development can be soon realized,” he said.

BNI’s Managing Director Sigit Pramono said that BNI has prepared toll road financing of around Rp12 trillion.

Of that amount, Rp8.8 trillion was prepared for Trans-Java toll road development and the remainder is for non Trans-Java toll roads.

“As much as Rp5.6 trillion for Trans-Java (toll roads) has been approved (to be disbursed),” he said.

Agoeng Wijaya and Desy Pakpahan

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