Gov't Consortium Conducts Toll Road Feasibility Study Indonesia Finance Today - 21/06/2012 The consortium of state-owned enterprises PT JasaMarga Tbk (JSMR), PT Adhi Karya Tbk (ADHI) and PT Wijaya Karya Tbk (WIKA) will work on the Cibubur-Senayan elevated toll road. The project is part of the development of Jakarta inner city toll road network, which is aimed to increase capacity up to 30 percent. Hasanudin, Director of Operations at Jasa Marga, said the company obtained the approval from the State-Owned
Indonesia Finance Today - 21/06/2012
The consortium of state-owned enterprises PT JasaMarga Tbk (JSMR), PT Adhi Karya Tbk (ADHI) and PT Wijaya Karya Tbk (WIKA) will work on the Cibubur-Senayan elevated toll road. The project is part of the development of Jakarta inner city toll road network, which is aimed to increase capacity up to 30 percent.
Hasanudin, Director of Operations at Jasa Marga, said the company obtained the approval from the State-Owned Enterprises Ministry on the development of the project. The consortium will then conduct feasibility study for the project next month.
According to Hasanudin, the consortium will submit the feasibility study result to the Toll Road Regulatory Agency of the Ministry of Public Works at the end of July, 2012. If the proposal is approved, the consortium will become the initiator in the project.
Based on initial studies conducted by Jasa Marga, construction of the Cibubur-Senayan toll road (23 kilometers), it requires investment of around Rp 3.5 trillion (US$ 371 million) for one lane. The State-Owned Ministry suggests that the toll road should be constructed with two lanes at once.
Hasanudin said that with the development of two lanes, the required investment will reach Rp 7 trillion. Meanwhile, the construction cost of the toll road is projected to reach Rp 180 billion per kilometer, or around Rp 4.14 trillion in total. “Based on initial calculation, the project has internal rate of return of 16 percent with investment return in 16 years,” he said.