Lampung, March 8, 2019 --- Residents of southern Sumatra may now be joyous because one of the infrastructure projects they have been waiting for has been completed and is ready for use. The project, the Bakauheni-Terbanggi Besar toll road, spans 140.9 kilometers. To inaugurate the toll road, President Joko “Jokowi” Widodo was present in Lampung on March 8.
For PT Bank Negara Indonesia (Persero) Tbk (BNI), this project was proof that the plan for finances, which were channeled by BNI to PT Hutama Karya (Persero) as the implementer of Bakauheni-Terbanggi Besar toll road development, was a success. BNI also made history as one of the banks that helped realize the trans-Sumatra project in stages, segment by segment.
During the event, the President was accompanied by State-Owned Enterprises Minister Rini Soemarno, Public Works and Housing Minister Basuki Hadimuljono and BNI president director Achmad Baiquni, as well as leaders of financing institutions that also channeled credits for the toll road development.
Hutama Karya will hold the concession for the Bakauheni-Terbanggi Besar segment of the road for 40 years, from 2015 to 2055. The total value of the project is Rp 16.7 trillion and financed in syndication, with an 8.06 trillion credit investment from banks that comprises 48 percent of the project’s costs. The project also received a Rp 7.5 trillion cash deficiency support (CDS) facility from PT Sarana Multi Infrastruktur (SMI). Therefore, total financing from the banking syndication and SMI was Rp 15.59 trillion.
Achmad Baiquni said toll road development was one of the government’s ways of creating connectivity between regions in an era of globalization. Toll roads are also needed to boost economic growth, as seen with the trans-Sumatra toll road that connects Bakauheuni in Lampung, southern Sumatra, and Aceh, northern Sumatra. The toll road is 2,818 km long.
"Therefore, growth acceleration and toll road infrastructure development equality in Sumatra will be able to reach more areas and increase accessibility for the Indonesian people, from production centers to markets,” Baiquni said.
BNI acted as the joint mandated lead arranger and book runner (JMLAB) as well as facility agent. Banks also involved in the syndication financing were Bank Mandiri, BCA, Maybank, CIMB Niaga, ICBC, Bank Permata, Bank Sumselbabel and SMI.
On Jan. 20, 2018, the President also inaugurated parts of the Bakauheni-Terbanggi Besar toll road, namely the Bakauheni Port-Simpang Susun (SS) stretch that spans 8.9 km and the 5.6-km SS Lematang-SS Kotabaru segment.
Hutama Karya received the assignment from the government to build and develop the trans-Sumatra toll road through Presidential Regulation No. 100/2014 juncto Perpres No. 117/ 2015.