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News Updates

Accelerating Infrastructure Development, IIF Finances Cimanggis-Cibitung Toll Road  Project

Posted on May 28, 2024August 20, 2024 by adminiif

Bali, 22 May 2024 – PT Indonesia  Infrastructure Finance (“IIF”) signed a Cash  Deficiency Support (CDS) facility agreement  worth Rp300 billion with PT Cimanggis  Cibitung Tollways (“CCT”). The signing was  carried out by President Director of IIF – Reynaldi Hermansjah and CCT President Director Indar Barung at the Bali Beach Hotel,  Bali.

 

The CDS facility allows CCT to meet its cash  needs at the beginning of toll road operations  until traffic volume reaches an optimal level.  The provision of this facility is also a form of  synergy between IIF and PT Sarana Multi  Infrastruktur (Persero) (“SMI”) considering  that CCT is one of SMI’s subsidiaries.

 

Reynaldi Hermansjah welcomed the  cooperation and expressed optimism about  CCT’s business prospects. “The Cimanggis Cibitung toll road is one of the National  Strategic Projects (PSN) that provides  significant economic benefits to the  community, and we believe that CCT is the  right partner to work with on this project.”

 

CCT itself is the concessionaire of the 26.184 km Cimanggis-Cibitung Toll Road, which  began commercial operation in November  2020 with the opening of Section 1A  (Cimanggis – Jatikarya) with a length of 3.17  km. In April 2023, CCT started operating  Section 2A (Jatikarya – Cikeas) with a length  of 3.36 km, while Section 2B (Cikeas – Cibitung) with a length of 19.65 km is  expected to start operating in mid 2024.

 

The Cimanggis-Cibitung toll road is part of the  JORR 2 toll road network that loops from  Cengkareng to Tanjung Priok with a total  length of 110.8 km. CCT is the last section of  JORR 2 that is connected to 4 toll roads and  1 more toll road that will be built later. 

 

This cooperation will also complete the entire  JORR 2 access network, which contributes to  equalizing traffic flow so that traffic  congestion can be reduced on several toll  roads such as Cikampek, Jagorawi and JORR  TB Simatupang. 

 

In conclusion, Reynaldi hopes that this  collaboration can continue to be established  and enhanced in the future, so that more  infrastructure projects can be funded and  contribute greatly to national economic  growth.

 

PT Indonesia Infrastructure Finance

PT Indonesia Infrastructure Finance (“IIF”) is a private non-bank financial institution, which is engaged in infrastructure financing and advisory services that are professionally managed and focused on commercially viable infrastructure projects. IIF was established on 15 January 2010 at the initiative of the Government of the Republic of Indonesia – Ministry of Finance of the Republic of Indonesia together with the World Bank Group, Asian Development Bank (ADB) and other multilateral institutions.

In its operations, IIF applies best practices based on international standards in providing credit, risk management, good corporate governance, and social and environmental protection standards to ensure the sustainability of infrastructure development in Indonesia.

Further Queries:

Nastantio W. Hadi

Head of Legal and Corporate Secretary Division

PT Indonesia Infrastructure Finance

Telp: (021) 2991 5060;

Fax: (021) 2991 506;

E-mail: [email protected]

Social Media: 

• Instagram: @pt_iif 

LinkedIn: IndonesiaInfrastructureFinance


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