PT PP (Persero) Tbk was named the winner of the tender based on a decision letter of Head of the Toll Road Regulatory Body (BPJT) Danang Parikesit handed over to Director of Corporation and Human Capital Management Strategy M. Aprindy, PT PP noted in a press statement released on Saturday.
Public Works and Housing Minister Basuki Hadimuljono has named a consortium of PT PP (Persero) Tbk, PT Wijaya Karya (Persero) Tbk, and PT Misi Mulia Metrical as winner of the tender for construction of the toll road through a letter number PB.02.01-Mn/1347, dated July 17, 2019.
Under the decision, PT PP (Persero) Tbk holds a 65 percent stake; PT Wijaya Karya (Persero) Tbk, a 25 percent stake; and PT Misi Mulia Metrical, a 10 percent stake, in the project.
"This is a big mandate for the company. We ensure that the next process will run as scheduled. Given the decision, we will soon set up BUJT (toll road business agency) and expedite the process of signing PPJT (toll road operation contract)," Aprindy remarked.
Construction of the 27-kilometer toll road, estimated to cost Rp15.3 trillion, will be integrated with the construction of Semarang City's sea dike. The toll road will be divided into section I in Semarang City and section II in Demak District.
The consortium is assigned to construct the 16.31-kilometer section II, with total investment of Rp5.6 trillion, with a concession period of 35 years.
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