BCA to finance Cikampek-Palimanan toll road project

Bisnis.com,27 Jul 2011, 03:56 WIB

JAKARTA: Several banks have committed to disburse long-term loan facility with 12-year tenor for financing a 166 kilometer-toll road project for Cikampek-Palimanan route.The financing commitment will be realized by BCA engaged with Bank Mandiri to accelerate the implementation of the toll road construction for Cikampek-Palimanan spending IDR5 trillion investment. "It can be realized as soon as possible, BCA President Director Yahya Setiaatmadja said last week.By pocketing the commitment, the government is expected to guarantee the construction implementation in order to avoid obstacles as happened in 2007.In addition, the land acquisition for the project is also expected to be completed totally before starting the construction process.Consequently, there will be no stagnated credit during the construction process related to uncompleted land acquisition.Meanwhile, Vice Minister of Public Works Hermanto Dardak viewed that the financing commitment for 12 years is a good signal for the continuity of toll road project for Cikampek-Palimanan route.The tenor is categorized as a long-term tenor really needed by investors so far for financing toll road projects in Indonesia.(t01/msw)

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