">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
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