Jakarta (ANTARA News) - A number of state-owned construction companies plan to issue bonds worth Rp50 trillion to finance infrastructure projects in the country, State-Owned Enterprises Minister Rini Soemarno said.

"The bond issuance plan worth Rp50 trillion is still being studied, and it is hoped that it can be realized in August 2015," she stated here on Thursday.

She added that the bonds will be absorbed by the China Development Bank and the Industrial and Commercial Bank of China.

"These Chinese banks have expressed their commitment to support and finance the infrastructure development projects that have already commenced," Soemarno affirmed.

Proceeds from the bond issuance, the minister pointed out, will be used to finance a number of projects, including the Trans-Sumatra Toll Road project.

"The implementation of the Trans-Sumatra Toll Road project must be accelerated so that it is operational during the Asian Games in Jakarta and Palembang (in Sumatra) in 2018," Soemarno emphasized.

To speed up and ease the development of the 324-kilometer long toll road, each member of the consortium involved has been assigned certain sections of the project.

Hutama Karya, for example, has been assigned to develop the Kilometer 0 to Kilometer 30 section, while Adhi Karya, has been assigned the Kilometer 30 to Kilometer 60 section. Similarly, others have been assigned specific sections to ensure that the project is finished within three years, the minister explained.

Soemarno did not give any details regarding the bond issuance process to be followed, i.e. she did not mention whether the bonds will be issued exclusively by state-owned companies or whether they will issue the bonds jointly.

"I myself tend to pool the bond issuance because several infrastructure projects will be carried out by state-owned firms through a consortium," she noted.

In addition, Deputy for Financial, Construction and other Services Gatot Trihargo said that the plan was still being handled by securities company Bahana Securities.(*)

Editor: Heru Purwanto
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