Toll road project: META's capex reaches Rp1.5 trillion
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Bisnis Indonesia - Proyek jalan tol: Capex META Rp1,5 triliun
19 May 2022
By Lorenzo A. Mahardika
Bisnis, Jakarta – PT Nusantara Infrastructure Tbk is preparing a capital expenditure of up to Rp1.5 trillion to work on several toll road projects.
Danni Hasan, Nusantara Infrastructure’s Director, said that most of the capital expenditure (capex) funds will be allocated for the toll road business sector. One of the projects that is currently being worked on by META is the toll road access construction to Makassar New Port (MNP).
The project that is predicted to cost Rp552 billion will be worked on by META’s subsidiary, PT Bintaro Serpong Damai (BSD). Next, MNP’s operation will be managed by PT Jalan Tol Seksi Empat (JTSE), which is also META’s subsidiary. Danni said that the groundbreaking process had been conducted on 7 February 2022.
“Until April 2022, the progress has reached around 1.1% as the design has only been finalised. The project’s construction is planned to last 14 months,” he explained during a public disclosure on Wednesday (18/5).
Besides that, META is also working on a flood mitigation project and is constructing a weaving area on Pondok Aren-Serpong toll segment of Jakarta Outer Ring Road (JORR) 2.
Dannis said that the projects are forecasted to cost around Rp541 billion. The construction process commenced in March 2022 and will be carried out for 14 months.
Overall, the three projects need Rp1.09 trillion. Danni said that 70% of financing for the projects would be secured through banking loans, while the remaining 30% will be provided through self-financing, which includes the company’s internal cash.
Besides the three projects, Danni added that META is also participating in the tender for the Cikunir-Ulujami toll segment of JORR Elevated. According to him, the company’s proposal is currently in the evaluation process.
“This is a prestigious project for us. If we are chosen, this will be the sixth toll road constructed by the company,” he added.
He stated that, in this project, META was partnering with state-owned construction company PT Adhi Karya (Persero) Tbk (ADHI) and PT Acset Indonusa Tbk (ACST).
Moreover, the company’s potential revenue from this project is quite significant. Assuming the integrated toll road tariff will be set at around Rp19,000-Rp20,000, Danni predicts that META can secure a revenue of around Rp2.2 trillion-Rp2.3 trillion from this project.
