ICBC Indonesia contributes IDR 317 billion to IDR 8.07 trillion syndicated loan for Bakauheni–Terbanggi Besar Toll Road Construction Project (Linked to Record ID#68792)

ICBC contributes to IDR 8.07 trillion syndicated loan for Bakauheni–Terbanggi Besar Toll Road Construction Project On December 27, 2017, PT Hutama Karya (Persero) — an Indonesian state-owned construction company — signed an IDR 8.067 trillion syndicated loan agreement for the Bakauheni–Terbanggi Besar Toll Road Construction Project.

The deal also involved a credit default swap facility from Sarana Multi Infrastruktur (SMI) worth IDR 7.52 trillion.

The members of the loan syndicate included Bank Mandiri, BNI, BCA, Bank CIMB Niaga, Bank Maybank Indonesia, ICBC Indonesia, and Bank Permata. ICBC Indonesia contributed IDR 317 billion to the loan syndicate.

S-416/MK.08/2018 dated June 6, 2018). The total cost of the project was IDR 16.7 trillion.

The remaining funds came from equity, which consisted of a state capital injection (PMN) amounting to IDR 2.2 trillion and a corporate bond sale of IDR 6.5 trillion.

The purpose of the project was to construct a 140.98 km (87.60 mi) toll road — with two lanes in each direction and nine interchanges — that runs from Terbanggi Besar to Bakauheni Port.

The Bakauheni–Terbanggi Besar Toll Road, which is part of the larger Trans-Sumatra Toll Road, is divided into four sections: Section 1: Bakauheni - Sidomulyo (39 km); Section 2: Sidomulyo - Kotabaru (40 km); Section 3: Kotabaru- Metro (30 km); and Section 4: Metro- Terbanggi Besar (31.9 km). Construction of the toll road officially commenced on April 30, 2015.

Section 1 and part of Section 2 (5 kilometers from Lematang Interchange to Kota Baru Interchange) was completed and opened to traffic on January 21, 2018. The rest of Section 2, Section 3 and Section 4 were completed officially opened to traffic on March 8, 2019.