Proceeds from the issuance of bonds will be used to settle maturing bonds...Jakarta (ANTARA News) - State toll road operator PT Jasa Marga Tbk (JSMR) plans to issue bonds worth Rp1 trillion next year to finance its maturing bonds.
The old bonds will become due in the first semester of 2013, Jasa Marga President Director Adityawarman said on Friday.
"Proceeds from the issuance of bonds will be used to settle maturing bonds," he said.
He said the company also has set aside Rp7.9 trillion in funds to develop toll roads.
In 2014, Jasa Marga will focus on building a 50-km turnpike, he said.
Currently Jasa Marga operates 545 km of toll roads. The length of toll roads is expected to increase to 738 km in 2014, a 39.1 percent increase compared to 2012.
Commenting on the construction of trans Sumatra highway, he said the government is in the processing of calling a tender for the construction of 60-km Medan-Kualanamu-Tebing Tinggi and 126-km Pekanbaru-Kandis-Dumai turnpikes.
"Although traffic on the two turnpikes still falls short of Jasa Marga`s traffic standard we will continue to build them," he said.
The tender process which will start in October this year will last for 6-8 months and a tender winner will be made known probably in October 2013, he said.
"Then, we will clear land for the construction of the project which is expected to start early in 2014," he said.
He said Jasa Marga will cooperate with local governments in constructing 29-km Padang-Sicincin, 37-km Kayu Agung-Palembang and 70-km Palembang-Tanjung Api-Api turnpikes.
(KR-SSB)
Editor: Ella Syafputri
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