Wednesday, September 19, 2007

Bakrie Consortium to Invest IDR3.2 Trillion in Cimanggis Toll Road

PT Bakrie & Brothers Tbk, through the consortium of Plus-Bakrie-Global, plans to invest IDR3.2 trillion to develop Cimanggis-Cibitung Toll Road. In this regard the consortium has prepared banking loan, project financing and bonds issuance.

Bakrie & Brothers and PLUS of Malaysia's Khazanah and Global Financindo (Capitalinc) has won the tender against Thiess-Waskita consortium.

Bakrie brokers has 15% shares in the company, Plus has 60% and Global has the rest stakes.

Cimanggis-Cibitung is part of Jakarta Outer Ring Road (JORR) under batch II of toll road development program. The toll road will connect Jagorawi and Cikampek toll road as long as 25.358 km.

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