"We have yet to decide how much and when the shares will be sold. Surely, we will sell all of our shares in CMNP," Jasa Marga`s finance director Reynaldi Hermansyah said here on Tuesday.
Jasa Marga will use proceeds from the sale of shares to support the construction of nine turnpikes that will cost an estimated Rp25 trillion, he said.
Nearly 70 percent of the funds needed to finance the project will come from bank loans, including those from Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Jabar Banten, and Bank DKI, he said.
The nine toll roads are Kebonjeruk-Ulujami, Bogor Ring Road, Cengkareng-Kunciran, Kunciran-Serpong, Semarang-Solo, Gempol-Pandaan, Gempol-Pasuruan, and Benoa-Ngurah Rai-Nusa Dua.
The other is relocation of Tol Porong-Gempol.
The Kebon Jeruk-Ulujami toll road which covers a distance of 7.67 km will be a part of the Jakarta Outer Ring Road (JORR), a network of toll roads that will connect Jakarta to its satellite cities.
The Cengkareng-Kunciran and Kunciran-Serpong turnpikes are part of the second Jakarta Outer Ring Road (JORR-2). (*)
Editor: Kunto Wibisono
Copyright © ANTARA 2012
