JAKARTA, NNC -State-owned banking company Bank Negara Indonesia (IDX:BBNI), also known as BNI, has participated in financing the development of Surabaya-Mojokerto toll road through a syndicated loan agreement with several other banks.
The company’s portion in the syndicated loan agreement reaches 30.98 percent worth IDR1.08 trillion. The total syndicated financing for the Surabaya-Mojokerto toll road project of 36.2 kilometers is IDR3.4 trillion.
“The infrastructure sector is one of the main sectors financed by BNI,” said Herry Sidharta, Vice President Director of BNI on Wednesday (12/20/2017).
The Surabaya-Mojokerto toll road is comprised of four sections, namely section IA Waru-Sepanjang, Section IB Sepanjang-Western Ring Road, Section II Western Ring Road-Driyorejo, Section III Driyorejo-Krian, and Section IV Krian-Mojokerto.
Sections IA and IV are already in operation. Construction of sections IB, II, and III have been completed, and have started on Tuesday (12/19/2017).
Meanwhile, BNI is appointed as the Mandated Lead Arranger, Facility Agent, and Escrow Agency for the syndicated lending agreement. The other syndication members are Bank Rakyat Indonesia (IDX:BBRI), Bank Pembangunan Daerah Jawa Timur (IDX:BJTM), Bank Sumut, Bank DIY, Sarana Multi Infrastruktur, and Indonesia Eximbank.
In addition, Jasamarga Surabaya Mojokerto (JSM), a subsidiary of state-owned toll road operator Jasa Marga (IDX:JSMR), owns concessions to the Surabaya-Mojokerto toll road. The toll road’s total investment value reaches IDR4.9 trillion. (*)