PT SMI Plans To Increase Bocimi Toll Share Ownership By 55 Percent This Year

Bocimi Toll Road (Photo: Antara)

JAKARTA - PT Sarana Multi Infrastruktur (SMI) plans to increase share ownership on the Bogor-Ciawi-Sukabumi or Bocimi toll road by 55 percent.

President Director of PT SMI Edwin Syahruzad said that overall his party was preparing to increase funds of around Rp. 1.5 trillion to fulfill the plan to expand the ownership of the Bocimi Toll Road.

"We plan to enter again a majority of up to 54 percent (on the Bocimi Toll Road). Yes, it will be carried out this year," Edwin said in a media briefing at his office, Wednesday, March 27.

Edwin said that the plan to increase asset ownership on the Bocimi Toll Road by up to 55 percent will be carried out in stages until 2026.

The plan to increase ownership on the Bocimi Toll Road will be carried out through the issuance of new shares by PT TJT.

"Later, we will issue new shares to complete the construction that has not yet been built from section 3 Sukabumi-Cibadak, now the stage is only 54 percent of land acquisition," he said.

For your information, PT SMI has acquired 25 percent of PT Waskita Toll Road (PT WTR) shares on PT Trans Jabar Tol (TJT).

With the joining of PT SMI as a shareholder, PT TJT now owns the main shares, namely PT WTR (74.99 percent), PT SMI (25 percent) and Waskita Cooperative (0.01 percent).

The entry of PT SMI as a shareholder of PT TJT aims to accelerate the completion of the construction of the Bocimi Toll Road, especially in the Cibadak-West Sukabumi section of 13.7 kilometers (km), which is currently in the land acquisition stage.

President Director of PT SMI Edwin Syahruzad said the share acquisition reflected the commitment of PT SMI and Waskita Group in supporting the National Strategic Project (PSN) which is beneficial for the community.

"We hope that this Bocimi section can improve connectivity, access and save travel time between Bogor and Sukabumi and become an alternative route in unraveling the density of arterial roads," Edwin said as quoted from the official website of PT SMI, Wednesday, January 31.

Meanwhile, PT TJT has completed the construction of the Ciawi-Cigombong section and the Cigombong-Cibadak section with a total length of 27.25 kilometers (km).

Furthermore, the Ciawi-Cigombong Section has been operating since 2018, while the Cigombong-Cibadak section has started no tariff operation since August 6, 2023.