VP's firm wins BSD toll road bid

Rendi A. Witular, The Jakarta Post, Jakarta

PT Bosowa Trading International, a subsidiary of cement producer PT Semen Bosowa Maros, has been awarded the right to purchase a controlling stake in toll road operator PT Bintaro Serpong Damai from Bank Negara Indonesia (BNI).

Bosowa Trading, owned by the family of Vice President Jusuf Kalla, offered Rp 280 billion (US$28.8 million) for an 89 percent stake in Bintaro Serpong during a stake auction held on Tuesday.

Bintaro Serpong is the builder as well as operator of the 7.2- kilometer toll road section connecting Serpong to Pondok Aren in Tangerang, Banten, with the road aimed primarily at accommodating residents of the company's housing complex.

In a tender process for the stake held by auction company PT Balai Lelang Batavia, Bosowa Trading beat out PT Astrateel Nusantara, PT Inpa Energi and PT Galaxi Ultra Prima, Bosowa Trading development director Safran Yusri said.

"It is a prospective business and we plan to manage the road for the next 12 to 20 years. Bosowa Trading is currently exploring other possibilities to secure toll road projects," said Safran in a press conference at his office on Thursday.

Safran said that Bosowa Trading would have to settle the payment before July 18, with the funds derived from a combination of the company's internal cash and loans.

The 89 percent stake in Bintaro could be worth up to Rp 401 billion, but since Bosowa Trading offered the highest price in the tender, the company was declared the winner, added Safran.

The road is part of a 13.1-kilometer toll road stretching between Ulujami in South Jakarta and Serpong in Tangerang. The section will further connect the western part of the Jakarta Outer Ring Road managed by state toll operator PT Jasa Marga.