Indonesia's Trans Marga Jateng secures key new toll road loan
Source:worldhighways 2014-4-16 11:33:00
A US$415.45 million (IDR 4.7 trillion) loan has been agreed for a new 75.67km toll road as part of the Trans Java toll road project in Indonesia.
Trans Marga Jateng, the 60:40 joint venture of Indonesian state-owned toll-road operator Jasa Marga and Central Java's state-owned infrastructure firm Sarana Pembangunan Jawa Tengah, has secured the 15-year syndicated loan from a group of lenders headed by state-owned bank Bank Mandiri.
The new toll road will run from Solo to Semarang through Salatiga and Boyolali, part of the Trans Java toll road project between Merak (Banten) and Banyuwangi (East Java).
Of the total loan, $158.87 million (IDR 1.8 trillion) will come from Bank Mandiri, whereas the remaining $8.82 million (IDR 100 billion), $97.08 million (IDR 1.1tn), and $141.21 million (IDR 1.6 trillion) will be contributed by Regional Development Bank of Central Java (Bank Jateng), Bank Rakyat Indonesia (BRI), and Bank Negara Indonesia (BNI) respectively.