PTPP Plans To Take Off The Semarang 'Demak Toll Road, Targeting Funds Of More Than IDR 10 Trillion

JAKARTA - PT Pembangunan Perumahan (Persero) Tbk (PTPP) is targeting fresh funds of more than IDR 10 trillion in 2027 from the implementation of the Semarang Toll divestment action Demak.

PTPP President Director Novel Arsyad explained that this figure is an assumption of the total capital issued by the company when carrying out the construction process. The contract value for the Semarang Toll Road construction itself is in the range of Rp. 10 trillion.

"If I'm not mistaken, what we are from is the Semarang Toll Road. The first contract may be around Rp. 10 trillion. So, yes, it must be (sold above the contract value). That, right, there is a business calculation," Novel said when met by media crews at the Parliament Complex, Senayan, Jakarta, Tuesday, July 15.

Novel emphasized that in determining the price of the Semarang-Demak toll divestment, his party will refer to the price to book value (PBV) ratio to get the appropriate price.

Even so, Novel admitted that he had not made a market sound with a number of investors regarding the plan to sell the Semarang 'Demak Toll Road.

According to Novel, his party will still focus on completing the construction of the toll road which is targeted to be completed next year.

"This, right, is still working on construction. The construction is complete (in 2026), right, we are still in 2027 (plans for divestment). Of course, right, later the market for prospective buyers will read the real situation," he added.

Based on information shared by the Toll Road Regulatory Agency (BPJT) of the Ministry of PUPR, Section 1 Semarang-Sayung is government support through the State Budget with a contract value of Section 1A of IDR 2 trillion, Section 1B IDR 6.8 trillion and Section 1C IDR 2.1 trillion.

Sementara itu, Jalan Tol Semarang Demak Seksi 2 Sayung Demak dikelola oleh Badan Usaha Jalan Tol (BUJT) PT PP Semarang Demak dengan pelaksanaan penandanan PPJT pada 23 September 2019 dan masa konsesi selama 35 tahun sejak SPMK (15 Mei 2020).

Semarang Toll Road Demak Section 2 costs IDR 5.9 trillion for investment.