Phase I Construction Of The Solo-Yogya-YIA Toll Road Project Gets Funding Guarantee Of IDR 9.89 Trillion

The construction project for the Solo-Yogyakarta-Yogyakarta International Airport (YIA) Kulon Progo Toll Road. (Photo: Doc. Antara/BPJT Ministry of PUPR)

JAKARTA - The Solo-Yogyakarta-YIA Kulonprogo toll road project which is being worked on by PT Adhi Karya (Persero) Tbk received funding guarantees of Rp9.89 trillion from syndicated loans provided by the manager of PT Jogja Solo Marga Makmur (JMM).

Adhi Karya President Director Entus Asnawi revealed that the collaboration carried out by his party together with PT Jasa Marga (Persero) Tbk and other agencies aims to produce safe, comfortable, and safety-first toll road infrastructure.

"In the process, this development is very challenging. Therefore, the company continues to be committed to developing competencies to produce innovation in facing quite difficult challenges," Entus said in an official statement quoted by Antara, Tuesday, December 27.

In addition, he hopes that the toll road will provide easy accessibility to facilitate access to transportation and distribution to encourage increased community welfare.

The syndicated credit facilities came from Bank Mandiri, BNI, BRI, and BCA, as Joint Mandate Lead Arranger and Bookrunner (JMLAB) together with infrastructure financing institutions PT Sarana Multi Infrastruktur (SMI) and nine other banks.

The funding will be used for the implementation of phase I development along 49.25 kilometers (km). This toll road will connect two provinces between Central Java and Yogyakarta.

Phase I of the construction of this toll road consists of Section 1.1 Kartasura-Klaten as far as 22.3 km, Section 1.2 Klaten-Purwomartani 20.08 km, then Section 2.1 Purwomartani-Maguwoharjo along 3.63 km, and part of Section 2.2 Trihanggo-Junction Sleman 3.25 km.

Adhi Karya is in charge of carrying out construction project work in Section 1.1 and Section 2.2, with progress in Section 1.1 having reached 45.9 percent. Solo-Yogyakarta-YIA Kulonprogo Toll Road has a total length of 96.57 km.

This section is part of a toll road network located in the Joglosemar Golden Triangle (Yogyakarta-Solo-Semarang) region, and is one of the National Strategic Projects (PSN) and will be connected to other Transjawa Toll Road networks, one of which is the Yogyakarta-Bawen Toll Road which is also carried out by Adhi Karya.

The role of the Joglosemar area will increase on the island of Java, in line with the connection of the toll road which is currently being built. As is known, the Joglosemar area is the support for economic growth, industry, and tourism in the middle of Java Island.