VP's firm wins BSD toll road bid<\/p>\n
Rendi A. Witular, The Jakarta Post, Jakarta<\/p>\n
PT Bosowa Trading International, a subsidiary of cement producer
\nPT Semen Bosowa Maros, has been awarded the right to purchase a
\ncontrolling stake in toll road operator PT Bintaro Serpong Damai
\nfrom Bank Negara Indonesia (BNI).<\/p>\n
Bosowa Trading, owned by the family of Vice President Jusuf
\nKalla, offered Rp 280 billion (US$28.8 million) for an 89 percent
\nstake in Bintaro Serpong during a stake auction held on Tuesday.<\/p>\n
Bintaro Serpong is the builder as well as operator of the 7.2-
\nkilometer toll road section connecting Serpong to Pondok Aren in
\nTangerang, Banten, with the road aimed primarily at accommodating
\nresidents of the company's housing complex.<\/p>\n
In a tender process for the stake held by auction company PT
\nBalai Lelang Batavia, Bosowa Trading beat out PT Astrateel
\nNusantara, PT Inpa Energi and PT Galaxi Ultra Prima, Bosowa
\nTrading development director Safran Yusri said.<\/p>\n
\"It is a prospective business and we plan to manage the road
\nfor the next 12 to 20 years. Bosowa Trading is currently
\nexploring other possibilities to secure toll road projects,\" said
\nSafran in a press conference at his office on Thursday.<\/p>\n
Safran said that Bosowa Trading would have to settle the
\npayment before July 18, with the funds derived from a combination
\nof the company's internal cash and loans.<\/p>\n
The 89 percent stake in Bintaro could be worth up to Rp 401
\nbillion, but since Bosowa Trading offered the highest price in
\nthe tender, the company was declared the winner, added Safran.<\/p>\n
The road is part of a 13.1-kilometer toll road stretching
\nbetween Ulujami in South Jakarta and Serpong in Tangerang. The
\nsection will further connect the western part of the Jakarta
\nOuter Ring Road managed by state toll operator PT Jasa Marga.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/vps-firm-wins-bsd-toll-road-bid-1447893297",
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"sponsor": "Okusi Associates",
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