PP Presisi Receives Financing Cooperation Facility For Completion Of Section 3 Cinere-Jagorawi Toll Road Construction Project

Illustration. (Photo: Doc. Antara)

JAKARTA - PT PP Presisi Tbk (PPRE), together with their subsidiary, PT LMA, obtained a financing cooperation facility in the form of a Working Capital Credit (KMK) from PT Bank BNI (Persero) Tbk, for the completion of the Cinere–Jagorawi Toll Road Construction Project. Section 3 is worth IDR 770 billion with a total contract value of the Cinere-Jagorawi Toll Road Section 3 of IDR 1.2 trillion.

"By obtaining a financing cooperation facility in the form of a working capital facility, it will help the company accelerate the project completion process which is planned to be completed in the early fourth quarter of 2022 and indicates that PP Presisi has gained great trust from banks in the construction of the Section 3 Cinere-Jagorawi Toll Road Project which is expected can increase the company's competitive advantage as a construction service company and mining services as the main contractor," said Rully Noviandar as President Director of PP Presisi, in a statement Tuesday, June 7.

"What we know is that the COVID-19 pandemic that has hit the whole world including Indonesia in the last 2 years has had an impact on all industrial sectors including the withdrawal of several infrastructure project tenders, the Cinere-Jagorawi Toll Road Project Section 3 is the only infrastructure project to be tendered in 2021. ," added Rully.

The toll road is part of the Jakarta Outer Ring Road (JORR) II Toll Road network that connects Kukusan-Cinere Depok for 5.5 kilometers. So it is hoped that with the completion of section 3, the toll road (JORR) I will be connected to (JORR) II via the Depok–Antasari (Desari) & Cijago Toll Road.

"In the future, we will focus on construction and non-construction services through synergies with SOEs and the private sector, especially as mining service contractors by referring to the nickel growth trend and increasing commodity prices with the capacity and capability of the company," concluded Rully.