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Sunda strait bridge construction begins in 2014

JAKARTA: Indonesia toll road operator asks government to grant banking financial warranty through PT Penjaminan Infrastruktur Indonesia in the stalled construction of 24 toll roads over the past years. The guarantee through PT Penjaminan Infrastruktur

JAKARTA: Indonesia toll road operator asks government to grant banking financial warranty through PT Penjaminan Infrastruktur Indonesia in the stalled construction of 24 toll roads over the past years. The guarantee through PT Penjaminan Infrastruktur Indonesia (PII) serves as one of the alternatives in fulfilling banks requirements that seeks a guarantee over 70% bank loan.We have proposed this notion to Toll Road Operator Body and government as we perceive that they may provide us the solution, said Steve to Bisnis last week.By securing such guarantee, those toll road projects may be accelerated. The absence of such warranty disables banks to own a legal certainty to secure the loan payment.With regard to the companys readiness to continue Cikampek-Palimanan toll road project, Steve unveiled his readiness to sign toll road agreement amendment anytime soon.We are ready in terms of equity and the construction, he affirmed.Responding to this matter, President Director of PT PII Shintya Roesly said that in principle, the company is ready to provide any warranty to the infrastructure project, employing private and government partnership scheme as long as it suits any given regulations, particularly Presidential Decree No.13/2010.Nevertheless, in the 24 toll road projects, PII is not able to provide the required guarantee as the entire warranty process must take place at the same time with the bidding process.The bridge of Sunda StraitSeparately, government ensures first phase construction of Selat Sunda bridge to be realized before the tenure of Susilo Bambang Yudhoyono ends in 2014.The certainty over such project completion is highly important considering the pivotal role of JSS project to accelerate the economic growth in Sumatra and Java islands, said Coordinating Minister of Economy, Hatta Rajasa.Until now, the construction of JSS still awaits for the legal basis such as the presidential decree that regulates the construction of Sunda strait bridge. (T02/wiw)

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