Sumitomo becomes advisor

Thu, 10 Apr 1997 | Source: REUTERS

HONG KONG (Reuter): Sumitomo Bank has been appointed financial advisor for a toll road project in Indonesia by PT Bakrie Investindo, Sumitomo Bank said on Tuesday.

Bakrie Investindo was awarded the build, operate and transfer (BOT) concession by the Government of Indonesia for the development of the 34 kilometer toll road between Kanci and Pejagan, Sumitomo said.

The project, which is part of the Jakarta-Surabaya toll road, is expected to be completed by the year 2001 and cost about US$250 million.

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