Dec 17, 2010

Jasa Marga sets IDR7 trillion capex

The state-owned toll road operator PT Jasa Marga Tbk, the first Indonesian toll road company, has prepared capital expenditure (capex) as much as Rp7 trillion for constructing seven toll roads in Indonesia.
President Director Jasa Marga Frans S. Sunito said that the company next year will begin to construct those seven toll roads, with accumulated length of 200 km.
“This year, some constructions have begun but some others are still in the process of land clearing. But it is sure that the construction of seven toll roads begins next year,” Frans said.
Those seven toll roads are Bogor Ring Road, Semarang-Solo, Surabaya-Gempol, Ulujami-Kebon Jeruk, Surabaya-Mojokerto and two roads as part of Jakarta Outer Ring Road (JORR) 2. The source of cash to finance the construction is the capex, which has been prepared as much as Rp7 trillion.
“Jasa Marga’s capex is Rp3 trillion, while the remaining comes from the subsidiaries. The total is Rp7 trillion,” Frans said. Thirty percent of the capex is Jasa marga’s cash and the rest is loan.
Frans added that Jasa Marga posted Rp4.2 trillion in sales, rising 15% from last year. The increase was caused by higher tariff and more volume of toll road users.

Disclosure: No position at the stock mentioned above.
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