Jakarta (ANTARA News) - Indonesian conglomerate PT Bakrie & Brothers said Tuesday the government has named its consortium the winner in the tender to build a 25-kilometer toll road in east Jakarta at an estimated cost of 3.2 trillion rupiah.
The Bakrie consortium beat the other contender for the project, namely the Thiess-Waskita consortium, Bakrie president Bobby Gafur Umar told Thomson Financial.
He said the Bakrie consortium also includes Global Financindo and Malaysian toll road operator Projek Lebuhraya Utara Selatan Bhd (PLUS), a unit of Khazanah Nasional Bhd, the investment arm of Malaysia's ministry of finance.
Gafur said construction of the project will start in the third quarter 2008 and is targeted to be completed in 2010.
The consortium will be granted a concession period of 35 years during which it will generate revenue from the toll road.
Existing Indonesian law stipulates that toll road fares should be raised every two years. The last hike was just implemented two weeks ago.
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