Suramadu bridge waits for funds<\/p>\n
JAKARTA (JP): The construction of a six-kilometer Suramadu
\nbridge connecting Surabaya and Madura island in East Java has yet
\nto be started because all the parties involved are still in a
\n\"waiting position\", said the Minister of Public Works Radinal
\nMoochtar.<\/p>\n
He said that the parties involved in the development of the
\nUS$260.86 million bridge include the Japanese Overseas Economic
\nCooperation Fund (OECF), as a creditor, industrial investors led
\nby Salim group, and East Java's water supply company.<\/p>\n
\"The government agrees that the construction should start. So,
\nwe hope OECF will soon fulfill its commitment to finance the
\nconstruction of the bridge,\" Radinal was quoted as saying on
\nTuesday by Antara.<\/p>\n
He said OECF which is expected to finance two thirds of the
\ntotal investment is still assessing the project feasibility
\nstudy.<\/p>\n
According to Radinal, the Japanese financial institution is
\nstill evaluating the repayment prospects of the loan.<\/p>\n
\"Some of its executives think that the development of big
\nindustries should precede the building of the bridge to guarantee
\nthe repayment of the loan,\" he added.<\/p>\n
\"But, we still expect the construction of the bridge will be
\nstarted by the middle of this year,\" he said.<\/p>\n
Early last year, the government formed a consortium, chaired
\nby the State Minister of Research and Technology B.J. Habibie, to
\nprepare the bridge project and industrialization plans for Madura
\nisland.<\/p>\n
The consortium consists of Japanese companies: Mitsubishi
\nCorp., Itochu Corp. and Long-Term Credit Bank and Indonesian
\ncompanies: PT Bukaka Teknik Utama, industrial estate in East Java
\nPT SIER, state-owned shipbuilding company PT PAL and steel
\nproducer PT Krakatau Steel.(04)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/suramadu-bridge-waits-for-funds-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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