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Indonesia Infrastructure Development- Updates & Discussion

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West Java


Jasa Marga-led consortium wins $3.9b Gedebage-to-Cilacap toll road bid
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Vincent Fabian Thomas (The Jakarta Post)
PREMIUM
Jakarta ● Mon, January 10, 2022


A consortium led by state-owned toll road operator PT Jasa Marga has won the tender for the Gedebage-Tasikmalaya-Cilacap toll road project, worth Rp 56 trillion (US$3.90 billion), the government has announced.

Jasa Marga will hold the lion's share of the consortium with 32.5 percent, followed by three private construction companies – PT Daya Mulia Turangga, PT Sarana and PT Gama Group – holding a combined stake of 27.5 percent.

The rest belongs to three state-owned construction companies, with PT Waskita Karya holding 20 percent and PT PP and PT Wijaya Karya holding 10 percent each. The consortium will soon establish a joint toll road business entity (BUJT).


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Other related news

 
South Jakarta public transportation station ( merging BRT and MRT system ), near ASEAN Headquarter office.

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Bridge in Papua province

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The cleanest city in South East Asia, Semarang, Central Java province capital

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Sudirman Central Business District (SCBD), Central Jakarta

 
Jakarta MRT phase 2 is started

 
Adhi Karya’s LRT property arm raises $20 million in IPO


Norman Harsono (The Jakarta Post)
PREMIUM
Jakarta ● Wed, February 23, 2022


State-owned PT Adhi Commuter Properti (ADCP) raised Rp 288.8 billion (US$20.11 million) through an initial public offering (IPO) on Wednesday to develop property along the tracks of the Greater Jakarta LRT, not to be confused with the Jakarta LRT.

ADCP, a subsidiary of state-owned LRT developer PT Adhi Karya, plans to use 49 percent of the funds to pay back bond debt, 26 percent to develop an existing project in Bogor, West Java, and 25 percent to acquire land in Bekasi, West Java.

The land will be used to build residential and commercial properties. “This IPO further strengthens the company's business as a leading transit-oriented development (TOD) property developer,” said ADCP president director Rizkan Firman during the IPO at the Indonesia Stock Exchange (IDX).

 
MRT Phase 2 Jakarta update and progress

 
Indonesia One Tower

North Tower with height 303 meters and south tower 306 meters

Indonesia One tower project will be continued after on hold due to dispute between foreign owned company, PT China State Construction Overseas, and its Indonesian partner, PT Media Property Indonesia.

Location: Thamrin, Central Jakarta

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Current progress (70 %)

 
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Indonesia One Tower

North Tower with height 303 meters and south tower 306 meters

Indonesia One tower project will be continued after on hold due to dispute between foreign owned company, PT China State Construction Overseas, and its Indonesian partner, PT Media Property Indonesia.

Location: Thamrin, Central Jakarta

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Current progress (70 %)


Indonesian partner will take over the construction and acquire the building ownership from China company. This is more compatible with the name of the buildings, Indonesia One tower.

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Legal ! Media Group Controls Indonesia One Twin Towers.


Friday, March 18 2022 – 14:45 WIB


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Media Group CEO Mohammad Mirdal Akib. Photo: Wenti Ayu/JPNN

jpnn.com ,JAKARTA- Media Group through its subsidiary, PT Media Property Indonesia (MPI), officially takes over the ownership of the Indonesian One Twin Towers.

CEO Media Group, Mohammad Mirdal Akib, conveyed this officially at a press conference on the 28th floor of The Plaza Office Tower, Central Jakarta, Friday (18/3). "MPI is in the process of acquiring the Indonesia One project from China Sonangol Media Investment (CSMI)," said Mirdal.

However, Mirdal has not mentioned the value of the acquisition. He made sure Media Group holds full stake of Indonesian One Twin Tower.

The building, which is claimed to be one of the tallest in Indonesia, is currently under construction.

"It's still around 40 percent, it is estimated to be completed by the end of 2023," said Mirdal. The Indonesia One Twin Tower, which is located in the heart of Jakarta, is directly connected to the MRT station.

 
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Sky Walk Senayan Park, Central Jakarta

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Local Jakarta administration keeps doing revitalization on bridge for public transportation users. The latest one is this bridge.

 
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This 2017 file photo shows a worker installing a steel bar into a girder block for building a fly-over at a Trans Sumatra toll road section in South Lampung, Lampung. (Antara Photo/Ardiansyah)

INA Breaks Its Egg With $2.72b Toll Road Investment​

BY :NOVY LUMANAUW, LENNY TRISTIA TAMBUN
APRIL 14, 2022


Jakarta. Indonesia Investment Authority, or INA, the country's sovereign wealth fund, has signed heads of agreement with state-owned construction companies Hutama Karya and Waskita Karya for $2.72 billion in investments in Sumatra and Java toll roads, the company said on Thursday.

The investment marked the fund's first investment in the country's infrastructure, much to President Joko "Jokowi" Widodo's delight.

"Today, I am thrilled. We finally break our egg," Jokowi said during a speech at the signing ceremony in Jakarta on Thursday.

The Ministry of Finance estimated that Indonesia needed $449 billion to develop its infrastructure alone between 2020 and 2024. Still, the state coffer and state-owned enterprises can only afford to cover around 58 percent of the cost.

So Indonesia set up the sovereign wealth fund last year to seek cooperation with foreign investors that could finance the country's economic development.

Jokowi hoped Thursday's agreement would create trust from investors for more projects funded by INA in the future.

“This will affect the domestic and international [investors'] trust in our ways of managing the finances. We hope the governance at INA will foster trust," Jokowi said.

The Toll Roads
Under the head of agreement, INA would finance three toll roads in Trans Sumatra built by Hutama Karya, namely the 17-kilometer Medan-Binjai toll road, Bakauheni-Terbangi Besar that spans 141 km, and the 189-kilometer Terbangi Besar-Pematang Panggang-Kayu Agung.

Meanwhile, INA's agreement with PT Waskita Karya covers two toll roads, namely Trans Java connecting Kanci-Pejagan for 35 km and Pejagan-Pemalang for 58 km.

The fund said that the total strategic financing for the toll roads reached Rp 39 trillion ($2.72 billion).

Minister of Finance Sri Mulyani Indrawati said the deal would allow INA to generate a stable stream of income from the toll roads in the future.

"At the same time, this transaction provides fresh funds for Hutama Karya and Waskita Karya because they are still tasked with missions to complete construction of the Trans Sumatra toll road," Sri Mulyani said.

The government designed Trans Sumatra, spanning 2,800 km, to connect the island to the north and south regions with its commodities-rich hinterland. Currently, six out of 24 planned segments with a total length of 531 km have been completed.


 

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