New turnpike in S. Jakarta ready for public opening
JAKARTA (JP): A new turnpike connecting Jagorawi toll road to Pondok Pinang in South Jakarta would be ready to operate once the presidential decree on its fees was issued, a toll road executive said yesterday.
Sudiro Wignyodipuro, director of PT Marga Nurindo Bhakti, which would operate the toll road, said the turnpike would help cut severe traffic congestion in the Taman Mini junction area.
"Once the new toll road starts operating, there will be no need for motorists to line up for hours just to get to the office or return home," Sudiro said.
He said once the toll road started operating, traffic flow from Cawang heading to Lenteng Agung, Fatmawati, Pondok Indah and Lebak Bulus could directly enter Dukuh 1 toll gate from the main Taman Mini toll gate without the need to leave the toll road through the east Taman Mini toll gate.
In addition, traffic from Pondok Pinang, Fatmawati and Lenteng Agung could directly enter Jagorawi toll road heading to Cawang and Tanjung Priok through Dukuh 2 toll gate, he said.
"After its operation, the junction will become the biggest in the country," Sudiro said.
The new turnpike is part of construction of 26.74 kilometers of the Jakarta outer ring road connecting Pondok Pinang and Pondok Indah in South Jakarta to Cikunir in East Jakarta.
"The whole outer ring road we are building is expected to be completed in line with its schedule -- by the year 2000," Sudiro said.
Loans
Marga Nurindo has operated the 14.25-kilometer Pondok Pinang- Jagorawi toll road since September 1996 and is constructing another 12.49-kilometer toll road connecting Jagorawi to Cikunir.
For the construction of the entire Jakarta outer ring road, it is estimated that the company will spend Rp 600 billion (US$195.9 million) with help from both local and foreign loans.
When asked whether the current monetary crisis would raise the project's cost, Sudiro said: "I regard the current monetary crisis as a 'natural disaster'. I can't say whether there will be a raise in investment."
The construction cost excludes the funds needed to pay land compensation, which was earlier estimated to be Rp 200 billion, for people whose land will be affected by the project.
In the initial plan, the Ministry of Public Works was in charge of paying land compensation, but due to limited funds, the private investor is required to share the obligation.
The private investor is then granted a longer concession period than earlier allowed, from the initial 29.5 years to 43 years.
Sudiro said yesterday that the company had no plan to ask the government to extend the concession period. "We haven"t thought about it yet," he said.
Go public
On the same occasion, Sudiro also revealed the plan that Marga Nurindo would sell its shares to the public next year.
"So, anyone interested in buying our shares can buy them on the stock market," Sudiro said.
He was referring to reports that publicly listed toll road operator PT Citra Marga Nusaphala Persada -- which is controlled by President Soeharto's eldest daughter, Siti "Tutut" Hardiyanti Rukmana -- planned to take over PT Bhaskara Dunia Jaya's stake in Marga Nurindo Bhakti.
Marga Nurindo, in which Tutut is president commissioner, is 38 percent owned by PT Investa Kusuma Artha, 25 percent by PT Bhaskara Dunia Jaya, 10 percent by state-owned toll road operator PT Jasa Marga, 10 percent by Marga Strukturindo Raya, 10 percent by Citra Lamtoro Gung Persada and the remaining 7 percent by PT Hanurata Coy Ltd. (ste)