Toll road developer expects Rp 110b profit

Toll road developer expects Rp 110b profit

JAKARTA (JP): Publicly-listed toll road company PT Citra Marga
Nusaphala Persada expects its after-tax profit to rise by 20
percent next year, to Rp 110 billion (US$47.7 million), a company
director said yesterday.

The company's director of finance, Tito Sulistio, said that in
1996 the company will operate a new section on the Cawang-Tanjung
Priok toll road: the 13.13-kilometer Harbor Road, which extends
from Tanjung Priok in North Jakarta to Jembatan Tiga/Pluit in
West Jakarta.

Tito said that as of Dec. 15, the construction of the project
had been 78.25 percent completed and would be fully completed by
June.

Tito said the operation of the Harbor Road, which is expected
to have a daily traffic volume of 15,000 vehicles, will increase
the traffic volume of the Cawang-Tanjung Priok toll road, which
is currently about 260,000 vehicles per day.

Because traffic volume is expected to grow by 16 percent
annually, the number of vehicles using the road is likely reach
305,000 per day in 1996, he said.

Tito added that, for the first nine months of this year, the
company booked a 67-percent increase in its net profit to Rp 66.7
billion, as compared with Rp 39.8 billion in the same period of
last year.

For the whole year, the company projected a net profit of Rp
91 billion, up from Rp 31 billion in 1993 and Rp 58 billion in
1994, he said.

Meanwhile, another director of the company, Teddy Kharsadi,
said that Citra Marga's management has proposed some expansion
projects to start in 1997.

Teddy said the company will construct a 31.5-kilometer toll
road in Surabaya, East Java, which will link the Tanjung Perak
port with Simpang Susun Waru at a cost of some Rp 500 billion.
The company also plans to commence work on a 114-kilometer toll
road between Sadang to Palimanan in West Java, at a cost of
approximately Rp 600 billion for each project, he added.(08)