New toll road to link Bintaro and Serpong
JAKARTA (JP): PT Bintaro Serpong Damai will build a 13.1- kilometer toll road linking Bintaro, South Jakarta, with Bumi Serpong Damai, a new satellite city in Tangerang.
The construction of the road will be done in cooperation with PT Jasa Marga, the state owned company assigned to manage the toll roads in the country.
PT Bintaro Serpong Damai, a joint venture between PT Jaya Real Property (JRP) and PT Bumi Serpong Damai, will be in charge in the construction of the toll road. PT Jasa Marga will handle the land appropriation.
Ciputra, chief commissioner of PT JRP, said that the first stage of the project will be built with an investment commitment of Rp 170 billion (US$78 million).
Speaking at a PT JRP shareholders meeting, Ciputra said yesterday that the toll road will be managed under the build- operate-transfer (BOT) scheme, in which PT Bintaro Serpong Damai will be allowed to collect revenues from the operation of the new facility for 30 years before handing over it to PT Jasa Marga.
He said that land appropriation has reached 4.5 kilometers to date. The appropriation is scheduled for completion next year.
"The construction is scheduled to start next year and to be completed by the middle of 1997," he said.
Ciputra denied rumors that the land clearance in the area was intended for the building of the second Senayan sports complex.
The denial was made in response to reports that a powerful developer planned to build the complex and was evicting a number of people from housing complexes in the area recently.
"The toll road project is expected to help commuters from Bumi Serpong Damai to get to Jakarta's business center more easily.
Ciputra said that the shareholders meeting realigned the position of the members of PT JRP's boards of commissioners and directors in a bid to improve its global objectives.
Ciputra, the former president of PT JRP, is now the chief commissioner, while Sukrisman, the former chief commissioner, is now a commissioner.
Secakusuma, the former deputy president, is now a commissioner. Tanto Kurniawan is now PT JRP's president, and Daranto M., Edmund Sutisna and Leonardi K. are vice presidents.
Tanto said that PT JRP posted net profits of Rp 40 billion in the first semester of this year, four times higher than those posted in the corresponding period of 1993. (22)