Foreigners Participate in Funding the Cipali Toll Project, which is Sandiaga without Debt

kabar gram. Jakarta - Candidate vice president number 02 Sandiaga Uno said the Cikopo-Palimanan (Cipali) toll road project could be built without debt. In fact, 70% of the project's funding comes from a number of banking syndicated loans, aka bank loans.

Based on the records, there were 22 banks that participated in financing this toll road project. Banks that provide loans include state-owned banks, national private companies, BPDs, and financial institutions.

In fact, in the financing there are also loans from a number of foreign banks. Among these foreign banks are Standard Chartered from the UK, SMBC from Japan, OCBC from Singapore, ICBC from China, and Deutsche Bank from Germany.

Then other banks that play a role in this project loan include BPD East Kalimantan, BPD Central Java, BPD Papua, BPD East Java, BPD West Kalimantan, BPD South Kalimantan, BPD Jambi, BPD West Sumatra, BPD Central Kalimantan, BPD Maluku, Indonesia Infrastructure Finance, and Sarana Multi Infrastruktur.



The bank's syndicated loan is led by PT Bank Mandiri Tbk (BMRI) and PT Bank Central Asia Tbk (BBCA). This loan is given to the Cipali Tol concession holder, PT Lintas Marga Sedaya (LMS).

LMS is a joint venture company with ownership of Malaysian companies, Plus Expressways Berhad 55% and PT Bashkara Utama Sedaya (BUS) of 45%. Meanwhile, BUS is a consortium consisting of PT Interra Indo Resources, PT Bukaka Teknik Utama, and PT Baskhara Lokabuana.

Interra Indo Resources is a subsidiary of PT Saratoga Investama Sedaya Tbk (SRTG) where Sandi holds a portion of the company's shares. In the openness of the Indonesia Stock Exchange (IDX), Sandi still holds around 24% of the shares.

The loan commitment given to this project amounted to Rp. 8.8 trillion with a period of 15 years.

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