There Is The Anthony Salim Conglomerate And IDR 1.3 Trillion BCA Cash Behind The Pettarani Makassar Fly Toll Road

AP Pettarani Flyover Toll Road in Makassar. (Photo: Doc. Antara)

JAKARTA - Makassar City now has a new icon, namely the AP Pettarani Flyover Toll Road. The 4.3-kilometer-long project was inaugurated by the Minister of Public Works and Public Housing (PUPR) on Thursday 18 March.

The AP Pettarani Flyover Highway is considered very important because it connects the southern part of Makassar City and Gowa Regency with Soekarno-Hatta Airport, Makassar New Port, and Sultan Hasanudin International Airport.

President Director of PT Makassar Metro Network (MMN) Anwar Toha revealed, after going through several long stages, the construction of the Pettarani Flyover Toll Road was finally completed and fully operational.

"This elevated toll road can be operated and can be directly utilized for various productive activities by the whole community. Through today's inauguration in front of the PUPR Minister, we are proud to present the contribution of the work of thousands of the nation's children who participated in the development of national infrastructure to create connectivity in Eastern Indonesia", said Anwar in his written statement, quoted on Wednesday, March 24.

He also gave his highest appreciation to Pahlawan Andi Pangerang Pettarani, who became a symbol of infrastructure development in Eastern Indonesia, whose name is immortalized as the name of the toll road segment, the new icon of Makassar City.

The construction of the Pettarani AP Layang Toll Road, Makassar is an example of the private sector's contribution to national infrastructure development. PT Marga Utama Nusantara (MUN) through its subsidiary PT Makassar Metro Network (MMN) together with local governments which are also supported by the central government, initiated this development to support the economic system and mobility in the area.

Conglomerate Anthony Salim. (Photo: Doc. Wall Street Journal)

For information, PT Marga Utama Nusantara is a business unit of PT Nusantara Infrastructure Tbk (META). So, in 2017, PT Nusantara Infrastructure Tbk was acquired by Anthony Salim through the Salim Group.

The acquisition of Nusantara Infrastructure was carried out by the 4th richest person in Indonesia through its subsidiary based in the Philippines, Metro Pacific Investments Corp (MPIC), a company controlled by First Pacific Company Ltd - the Salim family investment company.

And as of the end of February 2020, PT Metro Pacific Tollways Indonesia, which is a subsidiary of Metro Pacific Investments, controls 73.80 percent of Nusantara Infrastructure shares.

The construction of the Petta Rani elevated toll road involves the main contractor PT Wijaya Karya Tbk or WIKA and Nippon Koei Co Ltd. Then PT Indokoei International and PT Cipta Strada as supervision consultants, and PT Virama Karya as independent quality control consultants.

When it was built, it received credit funds from PT Bank Central Asia Tbk (BCA) and Bank Sulselbar. That happened in 2018, where BCA distributed a syndicated loan of IDR 1.3 trillion to PT Bosowa Marga Nusantara (BMN), which is a subsidiary of PT Marga Utama Nusantara (MUN) for the construction of the Pettarani AP Makassar Flyover Toll Road project.

The syndicated loan consists of conventional financing provided by BCA and Bank Sulselbar. Of the total ceiling of IDR 1.54 trillion, BCA disbursed syndicated loans of IDR 1.3 trillion and Bank Sulselbar amounted to IDR 230 billion.

Under this cooperation agreement, BCA also acts as Joint Mandated Lead Arrangers and Bookrunners (JMLAB), Facility Agent, Guarantee Agent, and Escrow Agent. Signed a syndicated credit facility agreement with a period of 12 years.