Build Cijago Toll Road, BNI and PT SMI Distribute Syndicated Loans of IDR 2.6 Trillion

PT Bank Negara Indonesia (Persero) Tbk (BNI) and PT Sarana Multi Infrastruktur (Persero) (PT SMI) affirm their commitment to supporting the development of the National Strategic Project (PSN). This is proven by distributing credit to PT Translingkar Kita Jaya.

This syndicated loan was channeled to build the Cinere-Jagorawi (Cijago) Toll Road Project, with a credit term of 15 years. Meanwhile, the syndicated financing value is Rp. 2.68 trillion, with BNI's portion as the lead arranger of Rp. 1.38 trillion and PT. SMI reaching Rp. 1.3 trillion.

The financing was marked by the signing of a Syndicated Credit Agreement held at Grha BNI 46, Jakarta (14/12/2021) between BNI, TLKJ, and PT SMI, with representatives acting on behalf of their respective companies, namely the Head of Corporate Business Division 3 BNI. Rudy Sihombing was accompanied by Head of Syndication and Corporate Solutions Division Rommel Sitompul, Director of Financing and Investment of PT SMI Sylvi Gani, President Director of TLKJ Hilman Muchsin. The signing was witnessed by Notary Rina Utami, SH and the board of directors of BNI, PT SMI, and TLKJ.

Present on the occasion were the Kompas Gramedia board of directors, namely Kompas Gramedia CEO Lilik Oetama, Kompas Gramedia Corporate Finance & Legal Director Marcella Lestari, and Kompas Gramedia Corporate Comptroller Director Johanes Latief. TLKJ Commissioner Teddy Surianto attended TLKJ, TLKJ Commissioner Bastillah Noor, President Director Hilman Muchsin, TLKJ Finance Director Cherly Piktiyani, and TLKJ Operations Director Alfiandra. The same event was also attended by the President Director of PT SMI Edwin Syahruzad and the Director of Financing and Investment of PT SMI Sylvi J. Gani.

Rudy said the financing agreement was proof of the company's commitment to supporting the government's program to accelerate the development of national strategic infrastructure. The Cinere-Jagorawi Toll Road section is one of the important infrastructures that will reduce the traffic load on the Jakarta Outer Ring Road toll road to Bogor and its surroundings.

"This is in line with the government's program which consistently focuses on building various infrastructures in Indonesia in order to increase Indonesia's competitiveness with other countries," he said.

Rudy added that as a continuation of the syndicated financing to PT TLKJ, BNI is also committed to providing total solutions and financial services as a whole to holdings and business groups by optimizing transactional, cash management, payment channels, as well as employee consumer products, both funds and loans. "Of course, all these facilities will be followed by BNI digital solutions which will make it easier and more comfortable," he added.

Kompas Gramedia CEO Lilik Oetama said that the progress of infrastructure development in Indonesia needs to be implemented through synergy and collaboration from various related parties. In accelerating the development of this national strategic program in the infrastructure sector, Lilik Oetama hopes that the Cinere-Jagorawi Toll Road will provide benefits and have a full positive impact on the community.

"The key to the success of the Cinere-Jagorawi Toll Road program is the synergy and collaboration from all of us. This program is an opportunity for us to create a traffic infrastructure that is safe and comfortable for the community. Hopefully the construction of this toll project in the future can run smoothly, minimal obstacles, and can be immediately used by the community," he said.

On the same occasion, the President Director of PT SMI Edwin Syahruzad also said that the implementation of this syndicated financing agreement is a signal that the infrastructure sector is an asset class that is still attracting investment from investors. Under current conditions, especially the toll road sector, it has resilience so that it is predicted that it will continue to be a strategic sector in the country. This financing support is also in line with the commitment and mandate given by the Ministry of Finance to PT SMI to continue to support the acceleration of development in Indonesia through one of its business pillars.

"As the Ministry of Finance's Special Mission Vehicle (SMV), PT SMI is always committed to supporting the acceleration of development in Indonesia. The toll road sector is a strategic sector and the Cinere-Jagorawi (Cijago) Toll Road Project is included in the list of National Strategic Projects (PSN) mandated government. We hope that PT SMI's involvement in this syndicate can be a catalyst to further encourage regional development and improve the community's economy, as well as open connectivity and accessibility of goods and services, "said the President Director of PT SMI in his speech.

As a National Strategic Project, the Cinere-Jagorawi Toll Road has a strategic value in increasing the volume of distribution of goods and services in the Greater Jakarta area. This toll road section will also facilitate the mobility of Bodetabek residents to Jakarta and Soetta Airport. The Jagorawi-Soetta Airport travel time will be significantly reduced when the construction of the Cijago toll road is completed.

According to PT Translingkar Kita Jaya President Director Hilman Muchsin, the toll road construction is targeted to be completed within 1.5 years. "The construction target is completed by the end of 2022 so that it can operate in early 2023, with financial support from BNI, of course, we are optimistic that the development target will be completed on time," said Hilman.

The Cijago Toll Road is part of the JORR II Toll Road consisting of the Cengkareng-Kunciran sections (15.2 km), Kunciran-Serpong (11.2 km), Serpong-Cinere (10.1 km), Cinere-Jagorawi (14.6 km). km), Cimanggis-Cibitung (25.4 km), Cibitung-Cilincing (33.9 km), and Tanjung Priok Access (12.1 km). The completion of the construction of the Cijago Toll Road will improve the connectivity of the JORR II Toll Road which has a positive impact on reducing congestion in the center of Depok City, facilitating the procurement of goods and services in the Jabodetabek area, reducing the traffic burden of the increasingly congested JORR I Toll Road, and its presence is very important as a catalyst for increasing regional economy.

Source: republika.co.id