Indonesia`s Jasa Marga to start work on three toll roads

Jakarta (ANTARA News/Asia Pulse) - State-owned Indonesian company PT Jasa Marga has set itself the target of starting the physical construction of three toll roads in Java in 2008, a spokesman said.

"Work on the 4 kilometre Sentul-Kedung Halang section of the Bogor Ring Road will begin in the first quarter of 2008, and the 11 kilometre Semarang-Ungaran section of the Semarang-Solo toll road and the 12 kilometre Gempol-Rembang section of the Gempol-Pasuruan ring road in the second semester of 2008," said Frans Sunito, PT Jasa Marga President Director, Monday in Jakarta.

Through an initial public offering (IPO) last November 12, PT Jasa Marga had raised Rp 3.9 trillion (US$417 million) in funds to strengthen its equity in the three projects.