Friday, April 19, 2024

CMNP secures IDR 600 B, Harbour Toll Road II to complete by 2025

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Audina Nur




Director General of Highways at the Ministry of Public Works and Housing, Hedy Rahadian, said on Monday that he was optimistic that the elevated Harbour Toll Road II, connecting East Ancol to Pluit, will be completed by 2025.

Hedy was assured of the 2025 deadline after the toll road operator owned by businessman Jusuf Hamka, PT Citra Marga Nusaphala Persada  (CMNP), secured an IDR 600 billion (US$ 38.6 million) credit to finish its construction.

The construction of the Elevated Harbour Toll Road II began in October 2019, initially targeted for completion in 2022. However, as of now, the project is still in its construction phase.

After a 2-year delay, Hedy cited, land acquisition as the main obstacle to completing the toll road project.

“The obstacles lie in land acquisition and financing, but financing has been injected [so it’s no longer an issue],” he said.

CMNP received a credit injection of IDR 600 billion from PT Bank Capital Indonesia on December 27, 2023. Media reports say that the loan will be used to support the construction of Harbour Toll Road II, which spans approximately 9.6 kilometers.

CMNP secured funding through two different credit facilities: IDR 50 billion through the Overdraft Loan (PRK) facility and the remaining IDR 550 billion through the Money Market Acceptance Loan (PA MM) facility.

The Ministry of Public Works and Housing says in its official website the Harbour Toll Road II will be integrated with the Tanjung Priok Access (ATP) and the Soekarno-Hatta Airport Toll Road. The Harbour Toll Road II is expected to contribute to forming a complete circle from the JORR 1 toll road and interconnected with the Jakarta Intra Urban Toll (JIUT).

The construction of the Harbour Toll Road II section is managed by CMNP. Initially targeted for completion in 2024 with an estimated investment of IDR 15.8 trillion, the deadline has been extended to 2025. The location of the project aligns with the 2030 Jakarta Provincial Spatial Plan. The Harbour Toll Road II is also expected to enhance the competitiveness of Tanjung Priok Port in sea logistics efficiency.

Audina Nur






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