Jasa Marga acquires 52% of Gempol-Pandaan toll road

JAKARTA: PT Jasa Marga officially acquired 52% share to be a major shareholder in the toll road project of Gempol-Pandaan route.President Director of Jasa Marga Frans Satyaki Sunito confirmed that the agreement for escalating its share portion had already been signed on Friday (March 11), last week.“We have already agreed for the acquisition of Gempol-Pandaan toll road by dominating the share portion by 52%,” Frans said to Bisnis in the end of last week.Previously, the share portion of the state-owned enterprise for the 13.61 kilometers- toll road project was by 0.81%. Supported by the acquisition, the share value of Jasa Marga is expected to IDR463.32 billion of total investment by IDR891 billion. In the meantime, another shareholder for the project is PTMargabumi Adhikarya.Frans also continued that Jasa Marga has planned to control other toll roads among 24 toll road projects being evaluated by government. The acquisition proposal has also been submitted to Toll Road Regulatory Board (BJPT) to be reviewed.Meanwhile, the acquisition plan will be considered by referring to the feasibility study of the project itself. “The toll road is our priority among others including trans-Java toll road, and the connection of JORR II and JORR W2 leading to the reduced congestion in Jakarta.Out of 24 toll road projects, Jasa Marga handles at least 7 projects which are part of trans-Java toll road, such as Semarang-Solo and Surabaya-Mojokerto routes, being priorities for completion.Gempol-Pandaan toll road that will be constructed in Pandaan District, Pasuruan, gives it a management concession for 35 years.Based on government’s evaluation through BJPT, the construction of toll road had been eligible to continue by supporting from the major shareholder.In separate occasion, Head of BJPT Achmad Gani Gazali said that by taking  part in the project, Jasa Marga will strengthen the structure of shareholders in financial term, so that it can execute the project.However, as he added, the acquisition does not guarantee the signing of agreement in toll road management to be executed, because it needs approval from concession holders to meet all determined conditions. (T01/NOM)

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