China Communications Construction unit to invest $1.65 billion in Indonesian toll road
JAKARTA (Reuters) - China Communications Construction Co’s (601800.SS) Indonesian subsidiary will buy a stake in a company which won a contract to build a 170-km (106 miles) toll road in the southeast Asian country.
PT China Communications Construction Indonesia (CCCI) will pay 23.3 trillion rupiah ($1.65 billion) for a stake in PT Jasamarga Probolinggo Banyuwangi, a unit of Indonesian state-owned toll road operator Jasa Marga (JSMR.JK), Bambang Brodjonegoro, Indonesia’s planning minister said.
The Jasa Marga unit will build a toll road connecting the city of Probolinggo to Banyuwangi in the eastern side of the main Java island, Brodjonegoro’s presentation showed.
Jasa Marga, which currently controls 94% of the subsidiary, will aim to maintain at least a 51% stake in its unit, its director Adrian Priohutomo said, though he did not disclose how much capital the state firm would have to provide to maintain that level.
“When CCCI enters, we will maintain our majority, to what percent will depend on the result of the due diligence,” he said.
Priohutomo said the company is currently holding a tender for the construction of the first 30 km, aiming to break ground next year.
Minister Brodjonegoro also witnessed customised supply chain financing agreements between ICDX Logistik Berikat, a subsidiary of Indonesia’s commodity exchange, with state construction firm Wijaya Karya and Jasa Sarana, a construction company owned by the West Java government, worth a total of 6 trillion rupiah.
The planning ministry has been arranging infrastructure financing deals to reduce the state’s funding burden.
Source: Reporting by Tabita Diela, editing by Louise Heavens; Writing by Gayatri Suroyo
https://www.reuters.com/article/us-indonesia-china-communications/china-communications-construction-unit-to-invest-1-65-billion-in-indonesian-toll-road-idUSKBN1WT1I5
PT China Communications Construction Indonesia (CCCI) will pay 23.3 trillion rupiah ($1.65 billion) for a stake in PT Jasamarga Probolinggo Banyuwangi, a unit of Indonesian state-owned toll road operator Jasa Marga (JSMR.JK), Bambang Brodjonegoro, Indonesia’s planning minister said.
The Jasa Marga unit will build a toll road connecting the city of Probolinggo to Banyuwangi in the eastern side of the main Java island, Brodjonegoro’s presentation showed.
Jasa Marga, which currently controls 94% of the subsidiary, will aim to maintain at least a 51% stake in its unit, its director Adrian Priohutomo said, though he did not disclose how much capital the state firm would have to provide to maintain that level.
“When CCCI enters, we will maintain our majority, to what percent will depend on the result of the due diligence,” he said.
Priohutomo said the company is currently holding a tender for the construction of the first 30 km, aiming to break ground next year.
Minister Brodjonegoro also witnessed customised supply chain financing agreements between ICDX Logistik Berikat, a subsidiary of Indonesia’s commodity exchange, with state construction firm Wijaya Karya and Jasa Sarana, a construction company owned by the West Java government, worth a total of 6 trillion rupiah.
The planning ministry has been arranging infrastructure financing deals to reduce the state’s funding burden.
Source: Reporting by Tabita Diela, editing by Louise Heavens; Writing by Gayatri Suroyo
https://www.reuters.com/article/us-indonesia-china-communications/china-communications-construction-unit-to-invest-1-65-billion-in-indonesian-toll-road-idUSKBN1WT1I5
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PT China Communications Indonesia’s Business Development Director, Ms Titien Syukur attended The Association of Indonesian Port Business Entities (ABUPI) National Seminar and National Working Meeting (Rakernas) which was held Thursday, June 6, 2024, at the Aryaduta Hotel Menteng, Jakarta.
Present at this national seminar was the Minister of Transportation, Budi Karya Sumadi who was officiated and opened the seminar. The Minister of Transportation emphasizes the port as a key logistics hub and with effective operation, good corporate governance, and high service and technical standards will make it an asset for supporting Indonesia Emas 2045. He stressed the need to improve infrastructure and technology, enhance human resources and competencies, and foster synergy among business players. He commended ABUPI for organizing the seminar with various associations and stakeholders in attendance.
This National Seminar presented 4 speakers themed “Port Services Industry as a Bridge to a Golden Indonesia 2045”, the 4 speakers include Director General of Maritime Affairs Antoni Arif Priadi, Representative from KADIN Khoiri Sutomo, Representative of the Indonesian National Shipowner Association Darmansyah Tanamas and General Chair of the Indonesian Logistic and Forwarder Association Akbar Djohan.
In the National Seminar, the 4 speakers conveyed that there are several main requirements for ports to achieve a Golden Indonesia 2045, namely adequate infrastructure, availability of human resources, application of technology, planning and economic growth as well as public and private collaboration for port infrastructure.
The outcomes of the National Working Meeting encompassed key initiatives, such as establishing a task force to assess diverse port sector regulations, forging partnerships with global port associations, and establishing a dedicated committee in preparation for the 2025 ABUPI National Conference.
PT China Communications Indonesia’s Business Development Director, Ms Titien Syukur attended The Association of Indonesian Port Business Entities (ABUPI) National Seminar and National Working Meeting (Rakernas) which was held Thursday, June 6, 2024, at the Aryaduta Hotel Menteng, Jakarta.
Present at this national seminar was the Minister of Transportation, Budi Karya Sumadi who was officiated and opened the seminar. The Minister of Transportation emphasizes the port as a key logistics hub and with effective operation, good corporate governance, and high service and technical standards will make it an asset for supporting Indonesia Emas 2045. He stressed the need to improve infrastructure and technology, enhance human resources and competencies, and foster synergy among business players. He commended ABUPI for organizing the seminar with various associations and stakeholders in attendance.
This National Seminar presented 4 speakers themed “Port Services Industry as a Bridge to a Golden Indonesia 2045”, the 4 speakers include Director General of Maritime Affairs Antoni Arif Priadi, Representative from KADIN Khoiri Sutomo, Representative of the Indonesian National Shipowner Association Darmansyah Tanamas and General Chair of the Indonesian Logistic and Forwarder Association Akbar Djohan.
In the National Seminar, the 4 speakers conveyed that there are several main requirements for ports to achieve a Golden Indonesia 2045, namely adequate infrastructure, availability of human resources, application of technology, planning and economic growth as well as public and private collaboration for port infrastructure.
The outcomes of the National Working Meeting encompassed key initiatives, such as establishing a task force to assess diverse port sector regulations, forging partnerships with global port associations, and establishing a dedicated committee in preparation for the 2025 ABUPI National Conference.
PT Celebes Railway Indonesia, a subsidiary of PT China Communications construction Indonesia has collaborated in the event activities with the Directorate General of Railways on the Rail + Metro China 2024 event that took place on 5th to 7th June in Shanghai. The event stands as one of the premier business-to-business platforms across China and the Asia-Pacific region, serving as a pivotal event for trade, procurement, and promotion within the rail transit sectors.
From that event, the Directorate General of Railways, the Ministry of Transportation had offered 3 potential projects for Indonesia’s railways development to Investors. The three projects are the Bandung Urban Rail Train (KA), Airport Train and Urban Train in the Capital City of Nusantara, East Kalimantan. All three projects were part of the Directorate General of Railways 2024 Strategic Plan.
PT China Communications Construction Indonesia’s Technical Director, Mr Rosa Bovananto and currently representing PT.CCCI as the Operation & Maintenance Director in PT.CRI was participated in the event. This exhibition is committed to delivering actionable industry insights and enhancing its standing within the sector by emphasizing the calibre and substance of its conference offerings. Attendees have the opportunity to engage through attending presentations, exhibiting on showroom floors, and presenting their cutting-edge technologies and product advancements to fellow industry experts.
Other business entities from Indonesia that took part of the event include; PT Adhi Karya Tbk, PT Wijaya Karya Beton Tbk, PT Kereta Cepat Indonesia China, PT. Kereta Commuter Indonesia and PT Len Railways System.
From that event, the Directorate General of Railways, the Ministry of Transportation had offered 3 potential projects for Indonesia’s railways development to Investors. The three projects are the Bandung Urban Rail Train (KA), Airport Train and Urban Train in the Capital City of Nusantara, East Kalimantan. All three projects were part of the Directorate General of Railways 2024 Strategic Plan.
PT China Communications Construction Indonesia’s Technical Director, Mr Rosa Bovananto and currently representing PT.CCCI as the Operation & Maintenance Director in PT.CRI was participated in the event. This exhibition is committed to delivering actionable industry insights and enhancing its standing within the sector by emphasizing the calibre and substance of its conference offerings. Attendees have the opportunity to engage through attending presentations, exhibiting on showroom floors, and presenting their cutting-edge technologies and product advancements to fellow industry experts.
Other business entities from Indonesia that took part of the event include; PT Adhi Karya Tbk, PT Wijaya Karya Beton Tbk, PT Kereta Cepat Indonesia China, PT. Kereta Commuter Indonesia and PT Len Railways System.
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