Jasa Marga picks up a loan for the Medan-Kualanamu project

In Indonesia, state-controlled toll road operator Jasa Marga has secured a loan worth nearly US$124 million to finance its Medan-Kualanamu-Tebing Tinggi (MKTT) toll road project. The loan is secured from a consortium of banks that include Bank BRI, Bank Mandiri and Bank BNI. The total cost of the project is around $315 million. The tender process of the project is being conducted and the winning bidder will be revealed in May. Jasa Marga operates and manages 13 toll road concessions directly and nin
April 27, 2015 Read time: 2 mins
In Indonesia, state-controlled toll road operator 1083 Jasa Marga has secured a loan worth nearly US$124 million to finance its Medan-Kualanamu-Tebing Tinggi (MKTT) toll road project.

The loan is secured from a consortium of banks that include Bank BRI, Bank Mandiri and Bank BNI.

The total cost of the project is around $315 million. The tender process of the project is being conducted and the winning bidder will be revealed in May.

Jasa Marga operates and manages 13 toll road concessions directly and nine toll roads through its subsidiaries. Around three-quarters of Indonesia’s toll roads in Indonesia are operated by Jasa Marga.

In March, Jasa Marga said it is keen to source funding to finance 10 new highway projects totalling more than 270km. Jasa Marga hopes to source loans worth a total of $215.46 million for the work. However, the projects are expected to cost around $306.37 million to construct.
Finance & Funding

For more information on companies in this article

Related Content

  • Serbia upgrading infrastructure
    May 2, 2012
    Serbia has managed to reduce the cost of building the Corridor 10 highway by €80 million. These funds will instead be used to pay for upgrades and improvements needed for the second section of the highway project, close to Neradovci. So far some 180km of the Corridor 10 highway has been built over a 40 month time frame. A further 150km of the highway has still to be built. Work on the Corridor 10 motorway is also being financed by the European Bank for Reconstruction and Development and the state budget. Wh
    Read More
  • Serbia upgrading infrastructure
    March 16, 2012
    Serbia has managed to reduce the cost of building the Corridor 10 highway by €80 million. These funds will instead be used to pay for upgrades and improvements needed for the second section of the highway project, close to Neradovci.
    Read More
  • Kazakhstan highway being handled by consortium
    February 12, 2018
    An international consortium has been formed that will handle a major highway project in Kazakhstan. Worth US$730 million, the consortium’s contract is to build and operate a new tolled ring road around the capital, Almaty. The construction consortium comprises the Turkish contractors Alarko and Makyol, SK Engineering & Construction and Korea Expressway. The funding package for the project meanwhile is being provided jointly by the International Finance Corp and European Bank for Reconstruction and
    Read More
  • Indonesia working on financing of Tebing Tinggi-Kisaran toll road
    August 16, 2016
    Indonesia is looking to finalise the financing of the Tebing Tinggi-Kisaran toll road that is likely to cost around US$661 million. The 60km road is part of the trans-Sumatra highway project, which is targeted for completion in 2019, according to a report in the Jakarta Post newspaper. The route – one of 30 priority infrastructure projects - will connect Kuala Namu International Airport and Kuala Tanjung Port with the nearby Sei Mangkei industrial complex. “Of the eight priority routes on the trans-Sumat
    Read More

Highlighted Content