Monday, 31 January 2011

9 Out Of 24 Toll Road Investors Have Submitted Financial Report

Nine out of 24 “stagnated” projects had submitted financial report as part of an evaluation process carried out by Board of Toll Road Management (BPJT). The 9 investors were investors of Trans Java and non-Trans Java toll projects. This was disclosed by the Ministry of Public Works, Joko Kirmanto in Jakarta on Friday (2/7).

The nine investors are PT Pejagan Pemalang Toll Road undertaking Pejagan-Pemalang toll section, PT Marga Setiapuritama ybdertajubg Senarabg-Batang toll section, PT Trans Marga Jateng undertaking Semarang-Solo toll section, PT Marga Hanurata Intrinsic undertaking Kertosono-Mojokerto toll section, PT Marga Nujyasumo Agung undertaking Surabaya-Mojokerto toll section, PT Marga Lingkar Jakarta undertaking the Jakarta Outer Ring Road W2 North, PT Marga Sarana West Java undertaking Bogor Ring Road, PT Translingkar Kita Jaya undertaking Cinere-Cimanggus toll sector, and PT Jasa Marga (Persero) undertaking Gempol-Pasuruan toll section.

Apart from evaluating financial report to evaluate investors capability, the Ministry of Public Works will also evaluate investors’ business plan to test feasibility. However, so far only two investors have submitted their business plan, namely PR Lintas Marga Sedaya undertaking Cikapmek Palimanan toll section, and PT Pemalang Batang undertaking Pemalang-batang section.

Evaluation of toll road project undertakings are meant to accelerate development of toll roads which had been stagnated due to various hindrances in terms of land procurement of investors’ financial capacity. Evaluations are made on the basis of Regulation of the Ministry of Public Works No. 0+/PRT/M/2010 on the Guidelines of Toll road management evaluation, in which it is stated that in the event that toll projects undertaker (investor) have signed the report evaluation approval, investors are obliged to submit all the required data. The time frame for provision of supporting data of evaluation, i.e. 90 days at the latest after signing of report. “In spite of the Ministrial Regulation stipulating 3 months time, I hope that data needed for the evaluation could be submitted to the Ministry of Public Works this month” Djoko underscored.

Previously Vice Minister of Public Works Herman Dardak, stated that the aim of evaluation over 24 toll road sections was not to suspend contract with investors, but to detect core of problem including solutions, so that toll roads that are bound to contract may roll once more. Cancellation of contract is but the last choice.

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