JAKARTA. The Solo-Yogyakarta-YIA Kulonprogo Toll Road project handled by PT Adhi Karya (Persero) Tbk (ADHI) has secured financing guarantee of IDR 9.89 trillion.
The financing guarantee is obtained through the syndicate loan granted for PT Jogja Solo Marga Makmur (JMM). For the record, JMM is a business unit that manages the Solo-Yogyakarta-YIA Kulonprogo Toll Road.
The parties that are included in the syndicate for this project are Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia, and BCA. They will act as a joint mandated lead arranger and bookrunner alongside the infrastructure financing company, PT Sarana Multi Infrastruktur (Persero) atau SMI.
The financing from this syndicate loan will be utilised to fund the phase I of the toll road construction that spans 49.25 kilometres. In the first phase, this toll road project will connect 2 provinces, Central Java and Yogyakarta.
The Solo-Yogyakarta-YIA Kulonprogo Toll Road will span 96.57 kilometres in total. The toll road is one of the National Strategic Project, and will be integrated with the Trans Java Toll Road. (KR/ZH)