Sumitomo becomes advisor

Thu, 10 Apr 1997, 00:00 WIB | 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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