KL firm unveils RI project

KL firm unveils RI project

KUALA LUMPUR (Dow Jones): -Road Builder (M) Holdings Bhd. Thursday said a Malaysian consortium has discussed providing Rp 800 billion (US$81.6 million) for the cost of land to revive a road project in Jakarta.

The consortium comprises Perspec Prime (Malaysia) Sdn. Bhd. and Comtrac Sdn. Bhd., both units of industrial group DRB-Hicom Bhd., Road Builder's unit Road Builder (M) Sdn. Bhd., and Ranhill Corp. Sdn. Bhd.

In a statement to the Kuala Lumpur Stock Exchange, Road Builder said the land cost would be part of the total cost of the Jakarta Outer Ring Road toll project.

The consortium is discussing the revival with the Indonesian Bank Restructuring Agency.

Road Builder said the total financing cost of the project was IDR1.2 trillion and that the portion to be financed by the Malaysian consortium is still being negotiated.

The company said the equity structure was also under discussion.