PUBLIC PRIVATE PARTNERSHIP :

TOLL ROAD DEVELOPMENT IN INDONESIA

Indonesia Infrastructure Investment Forum
Korea, 20 September 2017

Indonesia Toll Road Authority

Ministry of Public Works and Housing
 Economic Backdrop Background
• Indonesia’s GDP is ranked Indonesia Infrastructure Figure
16th worldwide
The Global Competitiveness Index 2016 -2017
• Largest regional economy
Infrastructure Ranking
(33% of ASEAN)
• Government’s infrastructure plan is a key component of
Singapore 2
delivering future economic prosperity
• Road infrastructure is lagging behind others Malaysia 24
China 42
Thailand 49
Indonesia 60
India 68
Vietnam 79
Philipinies 95

The Global Competitiveness Index 2016 - 2017

Quality of Roads Ranking

Singapore 2
Malaysia 20
70,000 65,065
China 39
60,000
India 51
50,000
Thailand 60
40,000
Indonesia 75
30,000
Vietnam 89
20,000
8,428 Philipinies
10,000 2,623 2,350 106
1,016
-
China Japan South Korea Malaysia Indonesia The Global Competitiveness Index 2016 - 2017
Ranking
Toll Road Length Among Asian Countries (Km)
Source : BPJT and other’s link
Singapore 2
Transport Cost in Percentage of GDP Malaysia 25

30% China 28
24.00%
20.90% Thailand 34
18.00%
20% 13.00% 15.00%
India 39
8.00%
10% Indonesia 41

0% Philipinies 57
Singapore Malaysia Thailand Cambodia Vietnam Indonesia Vietnam 60
Sumber: NESDB, Vietnam business forum, Logistic Viewpoints and Indonesia Investment
 Background
National Road Challenges

• High costs of land transport due to poor

connectivity, high travel times, chronic road
congestion, poor road condition
• Economic and social prosperity is being
inhibited by insufficient road capacity and
poor condition
• Traffic demand is expected to more than
double in 15 years, equating to around 5%
per annum, so the traffic situation will
become worse if no urgent action is taken
• The immediate challenge is to address the
road investment backlog and thereby
improve poor connectivity to keep Indonesia
moving and to boost the economy

GDP per capita represented by size of

bubble

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Background
Java 2035: No New Projects
National Road Challenges

Traffic conditions on tollroads

Traffic conditions on other arterial roads

Red indicates roads near/over capacity

Source: Indonesia Toll Road Authority, Ministry of Public Works and Housing
 Java 2035 : with Committed Background
Expressways Constructed National Road Challenges

Traffic conditions on tollroads

Traffic conditions on other arterial roads

Red indicates roads near/over capacity

Source: Indonesia Toll Road Authority, Ministry of Public Works and Housing
 Java 2035 : with Committed and Planned Background
Expressways Constructed National Road Challenges

Traffic conditions on tollroads

A Second
Trans-Java Freeway
is required
Traffic conditions on other arterial roads

Red indicates roads near/over capacity

Source: Indonesia Toll Road Authority, Ministry of Public Works and Housing
 JAVA Background
Backbone Network Schematic National Road Challenges

Jakarta Cikampek Cirebon Tegal Semarang Surabaya

Merak
Gempol
Bawen Banyuwangi
Surakarta

Bandung Cilacap Yogyakarta Malang

Jakarta Cikampek Cirebon Tegal Semarang Surabaya
Merak

Gempol
Bawen Banyuwangi
Surakarta

Bandung Cilacap Yogyakarta Malang

Supernode (Urban)

Supernode (Gateway)

Junction

Superlink

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 SUMATERA Background
Backbone Network Schematic National Road Challenges

Dumai Bandar
Banda Aceh Tebing Tinggi Pekanbaru Palembang Lampung

Jambi Indralaya

Bakauheni

Sibolga Padang Bengkulu

Jakarta C
Merak

Supernode (Urban)

Supernode (Gateway)

Junction

Superlink

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Policy Framework
GOALS
Improve Services and Set up Toll
Road Industry to support 1.000 km
Toll Road Program

DIRECTION

New PPP Simplified Government Land

Scheme Procedure Support Acquisition

Variety of Early and

MAIN PPP Scheme Faster Tender Government Faster Land
ACTIVITIES Process Support & Acquisition
Guarantee Process

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Policy Framework
STRATEGIC DECISION
New PPP Scheme

No Treated as
Project Included in
Unsolicited
master plan ? Project

Yes

TRC without TRC with Government

Conventional Procurement
Government Support Support

• Needed to boost regional

Economically
Economically No No No development; and
Feasible, Economically Feasible, Not
& Financially • Government budget for Toll
financially Financially Feasible
Feasible Road is Limited (based on
marginal
Government Budget Allocation)

Yes Yes Or Yes

Performance Construction
Build-Operate- Supported Toll State Own Enterprise
Based Annuity Contract (e.g:
Transfer (BOT) Road (S-BOT) (Due Diligent)
Scheme (PBAS) Turnkey &D&B)

Indonesia Toll Road Authority, Ministry of Public Works and Housing

DELIVERY OPTIONS : Policy Framework
Scheme Selection
New PPP Scheme

Economically No Reconsider
Viable Project

Yes

Economically
Viable
No Need
Acceleration,
Yes Support Dev

Without No
Support AP Candidate
No No

Yes Yes Yes

BOT SBOT SGM/SOE AP CONVENTIONAL

Indonesia Toll Road Authority, Ministry of Public Works and Housing

PRIVATE SECTOR GOVERNMENT
Policy Framework
Project Preparation
Simplified Procedure
Prepare PQ PQ And Bid
Document Invitation
Government
Submit PQ Prequalification Of
Document Bidder Support

Prepare Bid Pre Bid Conference-

Proposal bid Preparation
(± 4 Guaranteed by IIGF
Submit Bid Proposal months) Financing facility
& Bid Bond Submission And from SMI
Opening Bid
Receive Notice
Award
Evaluation Of Bid
Prepare Special Simplified
Purpose Vehicle Apointment Of Procurement Process
Succesful Bidder
Sign Contract

Performance Bond, Consession (± 2

Land Acquisition Agreement months) Contractors and
Cost, Financial Close banks early involved
IMPLEMENTATION OF THE AGREEMENT
 Government Support
Type of Guarantee

Tariff Land
Termination Ramp Up Land Fund Political
Adjustment Acquisition
Risk Period Risk Risk Risk
Risk Risk

Risks that will be MPWH‘ responsibility that should be mitigated

Exposure Risk
The highest risk is Termination Risk
(equal to Project Value)

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Government Support
Guarantee Transaction Structure

Bank (Debt)
70% 30% Equity
( 70% ) ( 30% )

MPWH PPP Agreement Toll Road Toll Tariff

User
(via ITRA) Government & TRC’s responsible Company

Recourse Guarantee
Budgeting Agreement Indonesia Agreement
Mechanism Infrastructure
Guarantee Fund
Guarantee
Ministry of Agreement
Finance MPWH Recourse Payment
(based on PMK 260/2010)

1. Guarantee Agreement between IIGF and Toll Road Company to guarantee the financial obligation of
ITRA – MPWH related to the risk allocation;
2. If ITRA – MPWH cannot fulfill the obligation, IIGF will pay to the TRC based to the claim;
3. The Mechanism will be arranged in Guarantee Agreement.

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Government Support
Risk Allocation
Law 13/1980 Law 38/2004

GEN 1 GEN 2 GEN 3 GEN 4

BEFORE 2004
(2004 – 2012) (2012 – 2015) (2015 – Present) (Future)

• Risks are shared • Project guaranteed by

between government through
Risks mainly Risks were Government and IIGF • Optimization
delivered to Private • Land acquisition policy the guarentee
taken by PT • Three parties is based on Law 2/2012 structure
Toll Road
Jasa Marga
Companies agreement (ITRA, • Certainty of land • Focus on
(State Own (SOE and TRC, Lender) acquisition on time regulation of
Enterprise) and Private • Land acquisition is frame, cost, and Minimum
Entities) responsibilty of institution Service
Private sector Government • Bridging Finance for Standards
• Land Revolving land acquisition by TRC,
Fund and Land repaid by government
Capping Fund through LMAN

ALLOCATION ALLOCATION
TYPE OF RISK TYPE OF RISK
Government TRC Government TRC

1. Land Acquisition 5. Toll Tariff

2. Engineering 6. Traffic Volume
3. Construction 7. Change of Law
4. O&M 8. Force Majeure

Indonesia Toll Road Authority, Ministry of Public Works and Housing

Certainty on Land Acquisition (Law 2/2012) Land Acquisition

PROJECT INITIATOR
Ministry of Public Works and
Housing

LOCATION PERMIT
THE USER Parties Governor/ Head of Local
Toll Road Company
Involved Regional

IMPLEMENTS AGENCY
National Land Agency

Time Frame
Substances Working Days
Preparation 242 - 268
Amount of Compensation
Implementation 247 - 251 Determined by an Independet Appraiser who
Handover 33 obtain a license from Finance Minister and
National Land Agency
Total 519 - 549

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Bills and Payments of LMAN 2016
12,26T LMAN’S BILLS
7,60T PAID BY LMAN

Pejagan Pemalang 566.02 Pejagan Pemalang

261.03
Pemalang Batang Pemalang Batang 72.91
510.44 299.77 281.52 149.53145.17
Batang Semarang Batang Semarang
520.71 294.18282.65 374.1 366.7 271.74 139.01165.66
Semarang Solo 309.41 Semarang Solo 143.29
Solo Ngawi 70.67 Solo Ngawi 33.98
Ngawi Kertosono 185.03 Ngawi Kertosono 18.11
Kertosono Mojokerto 37.08 Kertosono Mojokerto 36.26
Mojokerto Surabaya 48.28 Mojokerto Surabaya 46.69
111.01
Gempol Pasuruan 156.71 Gempol Pasuruan 71.06
Pasir Koja Soreang 60.37 Pasir Koja Soreang 41.15
Pandaan Malang Pandaan Malang
181.43313.57331.37 181.21311.3 234.2 99.6
Balikpapan Samarida 9.39 Balikpapan Samarida 5.28
8.90 9.39
Manado Bitung 97.65 Manado Bitung 6.19
91.46
Cengkareng Batuceper… Cengkareng Batuceper Kunciran 91.92 211.16 61.25
364.33 272.4161.25 Kunciran Serpong
Kunciran Serpong 476.96 166.35
865.92 166.35219.36 Serpong Cinere
Serpong Cinere 276.53 218.78197.9
1,039.22 341.56 299.75 Cinere Jagorawi
Cinere Jagorawi 61.81 93.9861.82
155.80 Cimanggis Cibitung
Cimanggis Cibitung 70.82
78.39 Cibitung Cilincing 74.46
Cibitung Cilincing
258.72 74.46 Depok Antasari
184.27
Depok Antasari 502.86 200.45
711.69 208.82 Bekasi Cawang Kp. Melayu 51.47
Bekasi Cawang Kp. Melayu
207.00 Bogor Ring Road
Bogor Ring Road 683.61 78.56
796.62 113.02 Bakauheni Terbanggi Besar
5.1 281.29 453.92 433.42
504.14 655.59 395.45 Palembang Indralaya 11.41
Palembang Indralaya
29.77 Pekanbaru Kandis Dumai 2.23
Pekanbaru Kandis Dumai 10.70 26.97
Medan Kualanamu…
37.67
209.91 Medan Kualanamu Tebing Tinggi 162.57
Medan Binjai 190.94 Medan Binjai 152.13

Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Phase 6 Phase 1 Phase 2 Phase 3 Phase 4

(in Indonesia Rupiah)

 Land Acquisition Fund 2017
as of 28th August 2017

12,61T NTP 2017 10,62T PAID TO LAND

OWNER
Pejagan Pemalang 131.19 Pejagan Pemalang 131.19
104.56 103.38 1,829.54
Batang Semarang 1,852.49 Batang Semarang
20.83 18.41
Solo Ngawi 75.76 Solo Ngawi 41.68
48.82 48.82
Kertosono Mojokerto 0.29 Kertosono Mojokerto 0.29
- -
Gempol Pasuruan 32.81 Gempol Pasuruan 70.24
3.22 3.23
Pandaan Malang 515.66 Pandaan Malang 376.84
105.05 102.34
Krian Legundi Bunder - Krian Legundi Bunder -
147.43 145.26
Manado Bitung 248.32 Manado Bitung 224.85
- -
Cileunyi Sumedang Dawuan - Cileunyi Sumedang Dawuan -
- -
Cengkareng Batuceper Kunciran 783.65 Cengkareng Batuceper Kunciran 651.45
1,482.57 620.69
Serpong Cinere 1,919.59 Serpong Cinere 1,900.04
68.63 34.76
Cimanggis Cibitung 1,191.06 Cimanggis Cibitung 1,178.77
141.59 135.57
Depok Antasari 290.89 Depok Antasari 269.13
344.18 241.02
Bogor Ring Road 307.73 Bogor Ring Road 231.47
- 1,268.12
Bakauheni Terbanggi Besar Bakauheni Terbanggi Besar -
1,393.96
958.11 638.07
Palembang Indralaya 9.27 Palembang Indralaya 0.65
27.96 25.81
Medan Kualanamu Tebing Tinggi 166.48 Medan Kualanamu Tebing Tinggi 124.14
205.28 201.07

(in Indonesia Rupiah)

 Toll Road Development Estimation of Total
Toll Road Plan
Target (2015- 2019) Investment (2015-2019) 2015 - 2019
1.060 Km IDR 167,4 T

East
North Kalimantan
Sumatera

North
Sulawesi

South
Sumatera

Lampung

West Java

Jabodetabek East Java

Central Java

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Toll Road Plan
Toll Road Operation Plan
2015 - 2019

1852 Km

1183 Km
669 Km

568 Km
615 Km
132 Km 176 Km
392 Km
44 Km

2015 2016 2017 2018 2019

Sept 17
235 km

Cumulative Length Cumulative Length of Realization

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Status: September 2017

National Strategic Project (PSN)

National Strategic
Project (PSN) Concession Agreement (PPJT) Investment Stage
Operated
Sumatera,
Sulawesi & 1 Project
Preparation 14 Km 2%
Kalimantan Land Acquisition
22 Project Trans Java
2.338 Km
11 Project
24% 17% 7 Project
969 Km 27% 10 Project 386 Km
34% 564 Km

65 Project 41 Project 41 Project

(4.718 Km) (2.146 Km) (2.146 Km)
Tender
63%
3% 2 Project 20%
234 Km Jabodetabek 29%
Non Trans Java
12 Project 8 Project
296 Km
316 Km 80%
Concession Agreement
41 Project Construction +
2.146 Km Land + Partly Operated
Non PSN Already Operating (120,2 Km): 33 Project
1.746 Km
• Cikampek – Palimanan : 116,7 Km
• Kejapanan – Gempol : 3,5 Km
Non Trans Sulawesi & Non Trans Sulawesi &
Trans Java Jabodetabek Number Trans Java Jabodetabek Number
Java Kalimantan Java Kalimantan
4 Project 1 Project 17 Project 22 Project
Preparation 0 Project 2 Project 4 Project 1 Project 7 Project
231 Km 17 km 2090 km Land Acquisition
2338 km 0 Km 102 km 141 km 143 km 386 km
1 Project 1 Project 2 Project Construction + 10 Project 5 Project 8 Project 10 Project 33 Project
Tender Land + Partly
170 Km 64 Km 234 Km Operated 564 km 200 km 156 km 826 km 1.746 km
Concession 10 Project 8 Project 12 Project** 11 Project 41 Project 1 Project 1 Project
Operated
Agreement 564 km 316 km 297 km 969 km 14 km 14 km
2.146 km
11 Project 12 Project 14 Project 28 Project 10 Project 8 Project 12 Project 11 Project 41 Project
65 Project Total
TOTAL PSN 564 km 316 km 297 km 969 km 2.146 km
734 Km 548 Km 377 Km 3.059 Km 4.718 Km
** 1 Project including 6 Project DKI Jakarta:
1. Semanan – Sunter (20 Km) 4. Kemayoran – Kampung Melayu (10 Km)
2. Sunter – Pulo Gebang (10 Km) 5. Ulujami – Tanah Abang (9 Km)
3. Dutri Pulo – Kampung Melayu (10 Km) 6. Pasar minggu – Casablanca (9 Km)
 Financing Needs
(Toll Roads On Progress)
SOURCE OF FINANCING BANK SYNDICATION
38,8T 1,1T
BANK MUAMALAT
VGF 4,8T
12.3% BANK JATENG
2% 13,7T
105,4T 33.4% 2,7T
10%
BNI
EQUITY SMI 6% 29%
354T 1,1T 2%
BCA
41 PSN
47,7T
66.6%
209,9T 31%
14,6T 20% 9,7T
DEBT MANDIRI BRI

Source Of Equity Source Of Debt Source Of Conventional Government Support

Funding (Partly Constructed by Government)
120 250.0
60
45.0
100 9,4 200.0 40.0
50
16.1 35.0
80 87,1 7,6
150.0 40 30.0
8.4
60 25.0
105.4 30
100.0 209.9 43.9 20.0 38.8
40 79.9 72.7 49.05
20 15.0
19.3
20 50.0 1.06 10.0
10
49.05 5.0
0 5.15 3.6
- 0 0.0
Equity VGF
Debt Conventional
Funding Gap FundingGap
Funding Gap
Government Injection Funding Gap CPF SupportOther
Support from Toll
Other Toll Road
Road
Bank
Perbankan NonPerbankan
Non Bank
Syariah Conventional Loan
China
China
Loan
Shareholder Equity
National
APBN Budget
- PUPR
 Project Medan – Binjai (17 km)
Trans Sumatera Toll Road
Length : 16,72 km
on Progress
Total Section : 3 sections
Concession : 40 yr
Tariff (Gol. I) : Rp 750/km (2017 yr)
Initial Traffic Volume : 15.027 Vhc/day (2017 yr)
Investment Cost : Rp. 1,604 Tn
Construction Progress : 53,38% (6 June ‘17)
Project Kuala Tanjung-Tb. Tinggi-
Parapat (143 km) Project Pekanbaru –Dumai (131 km)
Length : 143.25 km Length : 131,475 km
Total sections : 6 sections Total IC : 5 IC
Concession : 40 yr Concession : 40 yr
Tariff (Gol. I) : Rp 1000/km (2020 yr) Tariff (Gol. I) : Rp 900/km (2020 yr)
Initial Traffic Volume : 7,866 Vhc/day (2020 yr) Initial Traffic Volume : 6.948 Vhc/day (2020 yr)
Investment Cost : Rp. 13.45 Tn Investment Cost : Rp. 16,210 Tn
Construction Progress : 0,63 % (6 June ‘17)

Project Palembang – Simpang Indralaya (22 km)

Project Pekanbaru-Padang (255 km)
Length : 22 km
Length : 255.8 km Total Section : 3 sections
Total sections : 5 sections Concession : 40 yr
Concession : 40 yr Tariff (Gol. I) : Rp 750/km (2017 yr)
Initial Traffic Volume : 12,331 Vhc/day (2020 yr) Initial Traffic Volume : 20.931 Vhc/day (2017 yr)
Investment Cost : Rp. 65.113 Tn Investment Cost : Rp. 3,301 Tn
Construction Progress : 54,81 % (6 June ‘17)

Project Terbanggi Besar – Pematang Panggang –

Project Bakauheni – Terbanggi Besar (140 km) Kayuagung (185 km)
Length : 185 km
Length : 140,938 km
Speed Design : 100 km/jam
Total IC : 9 IC
Total Lane : 2 x 2 Lane (Initial stage)
Concession : 40 yr
Total IC : 5 IC
Tariff (Gol. I) : Rp 800/km (2018 yr)
Concession : 40 yr
Initial Traffic Volume : 16.097 Vhc/day (2018 yr)
Tariff (Gol. I) : Rp 900/km (2019 yr)
Investment Cost : Rp. 16,795 Tn
Initial Traffic Volume : 6.419 Vhc/day (2019 yr)
Construction Progress : 35,49 % (6 June ‘17)
Investment Cost : Rp. 21,950 Tn
Finishing Target : June 2018
Priority Segment to be Developed
Panjang
Project Tol
(km)
17

Perpres 100/2014
Medan – Binjai
Palembang –
22
Indralaya

Bakauheni – T Besar 140

8 Priority Pekanbaru – Dumai 131
Segments
Terbanggi Besar –
(Operation Pematang Panggang. 100

Perpres 117/2015
Target by
End of 2019) Pematang Panggang – 85
Kayu Agung
Palembang – Tanjung
Api Api
90

Kisaran – Tebing
60
FINANCING FOR 8 PRIORITY SEGMENTS Tinggi
 Investment Cost (Excluded VGF) : Rp. 73,9 Trillion Sub Total 645

MPUPR 2016
Medan – Banda Aceh 470
 Equity Portion : Rp. 44,2 Trillion Additional
Priority Padang – Pekanbaru 240
 Source of funds:
Segment
 Gov Injection 2015-2016 : Rp. 5,6 Trillion Tebing Tinggi – Prapat 98
 Contractor Turn Key : Rp. 7,0 Trillion Sub Total 808
 Current Bond *) : Rp. 6,5 Trillion Betung - Jambi 191
 Rev. Tj Priok Access : Rp. 4,0 Trilion
TOTAL 1.644
 Sub-Total : Rp. 23,1 Trillion

 Shortage : Rp. 21,1 Trillion

Remarks :
 Debt Portion : Rp. 29,7 Trillion
*) Bond and Debt Portion are guaranteed by Government of Indonesia
 Financial Institution *) : Rp. 29,7 Trillion
Priority Segment to be Developed
Length Investment Cost
Description Equity Available Equity DEBT Equity Source Support Necesity
(km)
KM Rp B
Medan – Binjai 17 17 2,742 1,014 1,014 1,728 Gov Injection 2015
Perpres 100/2014

Palembang – Indralaya 22 22 3,301 2,311 2,311 990 Gov Injection 2016

Already Financed
Gov Injection
Bakauheni – T Besar 140 140 16,795 8,728 8,728 8,067
2015-2016 & Bonds
8 Priority
Revenue Tj Priok
Segments Pekanbaru – Dumai 131 131 16,210 11,347 4,000 4,863 Direct Lending for Equity
(Operation Target Access
by End of 2019) Terbanggi Besar – Pematang Panggang. 100 Soft Loan for refinancing
Perpres 117/2015

105 13,574 7,044 7,044 6,530 Contractor Turn Key to

Pematang Panggang – Kayu Agung 85 PT Waskita Karya

Palembang – Tanjung Api Api 90 90 14,289 11,431 2,858 (not available yet) Direct Lending for Equity

Kisaran – Tebing Tinggi 60 60 2,307 6,991 4,684 (not available yet) Direct Lending for Equity
Sub Total 645 565 73,902 44,182 23,097 29,720
Soft Loan for VGF portion
Medan – Banda Aceh 470 470 70,120 (not available yet) (not available yet) (50km)
Direct Lending for Equity
MPUPR 2016

Additional Priority Soft Loan for VGF portion

Segment Padang – Pekanbaru 250 240 65,000 (not available yet) (not available yet)
Direct Lending for Equity

Soft Loan for VGF Portion

Tebing Tinggi – Prapat 98 93 7,974 (not available yet) (not available yet) (Banda Aceh – Sigli,
70km)
Sub Total 808 758 143,094
Betung - Jambi 191 191 28,650 (not available yet) (not available yet) Direct Lending for Equity
TOTAL 1,654 1,514 245,646

Need Viability Gap Fund (VGF) for Kuala Tanjung-Tebing Tinggi-Parapat about 50 km, Cost
Estimation IDR 7.5 T
Trans Sumatera Toll Road

No LINK (KM) FIRR %  Padang-Pekanbaru 250 km, some section possible to be financed by
1 Medan-Binjai 17 11.15 JICA Loan especially on tunnel section (± 7 km) & access road
2 Palembang-Sp Indralaya 22 11.00  Review several financing for :
3 Bakauheni-Terbanggi Besar 140 11.80
 Aceh-Sigli (75 km)
4 Pekanbaru-Dumai 131 11.20
 Palembang-Tanjung Api-api (90 km)
5 Palembang - Tanjung Api-api 90 3.80

6 Kisaran-Tebing Tinggi 60 11.70

 Pekanbaru-Dumai (131 km)
7 Terbanggi Besar-Pematang Panggang 100 9.36  Indrapura-Kisaran ( 48 Km)
8 Pematang Panggang-Kayu Agung 85 9.36

9 Dumai-Sp. Sigambal-Rantau Prapat 175 7.11

10 Rantau Prapat-Kisaran 100 8.73

11 Bukit Tinggi-Padang 55 6.22 Financing Scheme :

12 Batu Ampar-Bandara Hang Nadim 25 10.83
1. ODA and/or Subsidy Loan Agreement to HK (two step loan)
13 Jambi-Rengat 190 7.40

14 Rengat-Pekanbaru 175 7.30

for VGF and complex structure (tunnel section)
15 Betung (Sp Sekayu)-Tempino-Jambi 191 7.34 2. Direct Lending to HK
16 Pekanbaru-Bukit Tinggi 185 6.61
3. Japanese investor create joint venture with HK
17 Sp Indralaya-Muara Enim 88 9.21

18 Tebing Tinggi-Sibolga 200 9.61

19 Sigli-Banda Aceh 75 9.53

20 Lubuk Linggau-Curup-Bengkulu 95 9.14

21 Muara Enim-Lahat-Lubuk Linggau 125 8.98

22 Binjai-Langsa 110 9.50

23 Langsa-Lhokseumawe 135 8.51

24 Lhokseumawe-Sigli 135 8.09

TOTAL 2,704
 Trans Sumatera Toll Road State Guarantee Model
Concession Scheme (Indonesia Case)

PT HUTAMA KARYA

100% 100% 100% 100%

Additional Model 1 Model 2 Model 3 Model 4 Model 5

Availability Turnkey/
Construction Assignment Joint
Padang- Payment Mod.
Contract To PT WK Venture
Pekanbaru Turnkey

Medan-Aceh Medan-Binjai Terbanggi Besar- 30% 30%

40%
Kayuagung
Palembang- HK JM WTR
Indralaya

Pekanbaru-Dumai
Kualatanjung-
Parapat
Bakauheni-
Terbanggi Besar

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Characteristic of
Future Toll Road Project

4. Huge investment cost meanwhile domestic financing

2. Marginal
capacity is limited
feasibility for
next project, • Domestic investor project :
1. Land a. Jasa Marga: 719 km
will be
Acquisition as b. Waskita Karya: 236 km
tendered in
important factor
next 1-2 year c. CMNP: 90 km
(low traffic d. Astra Group: 37 km
volume) e. Hutama Karya : 618 km
f. Others (Wijaya Karya, BSD, Group Kompas-
Gramedia, Jakarta Propertindo) : 151 km
3. Cash deficiency on initial period of • Almost all of their capacity is used (ability to get
operation (mismatch financing) financing from bank is limited by legal lending limit)

Necessity :

1. Preparation project document that are more bankable

2. Bigger Government Support
3. New project scheme to attract investor
4. Alternative source of financing (pension fund, securitization, etc.)

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Upcoming Project

BANDA ACEH

MEDAN

MENADO

PEKANBARU
PONTIANAK

SAMARINDA SORONG MANOKWARI

PALU
BALIKPAPAN
PADANG JAMBI
JAYAPURA
MAMUJU
PANGKAL PINANG
PALANGKARAYA
PALEMBANG

BANJARMASIN AMBON
KENDARI
BENGKULU WAMENA

BANDAR LAMPUNG
UJUNGPANDANG

3
JAKARTA SEMARANG
4 1 SURABAYA
6 8
BANDUNG 5
7 KENDARI

YOGYAKARTA
2 MATARAM
MERAUKE

DENPASAR

KUPANG

Link Number 1 2 3 4 5 6 7 8

Semarang- Probolinggo- Serang-Panimbang Jakarta Cikampek 2 Jembatan Cileunyi-Tasik- Cilacap-Jogja- Jogja-

Link Name Demak Banyuwangi (Segment Cileles- Cilacap*) Solo*) Bawen
Panimbang) Selatan* Suramadu

Length (km) 25,25 172,91 33 64 5,40 183 237 71,56

Investment Cost 7,71 21 35,03 45,37
(IDR Trillion) 5,2 17.77 NA 12,13

Land Cost (IDR Trillion) - - - 3.07 NA 0,59 0,77 -

Construction Cost 5,17 14,67 20,95 27,14
(IDR Trillion) 3,5 7.76 NA -

Scheme BOT BOT AP BOT OMT BOT BOT BOT

Tender Process Pre-qualification
(Request for (Evaluation,
Tender Proposal, Unsolicited Unsolicited
Status Pre-qualification shortlist Tender Preparation Unsolicited Project
*) unsolicited project Preparation proposal Project project
submission enf Indonesia Toll Road Authority, Ministry of Public Works and Housing
announcement end
of Sept 17 ) of Aug 17)

Lesson Learned
 Collaborative toll road PPP
 Mutual effort to achieve target
 Creative and adaptable scheme :
- Land Acquisition fund
- Contractor pre-financing
- Cross subsidy
- Utilization of existing assets including
securitization, etc
Indonesia Toll Road Authority, Ministry of Public Works and Housing
Closing Statement
Commitment using PPP Scheme
 Solid Regulations framework to support
implementation of Toll Road PPP
 Bankable PPP structure to attract private
sectors and financing institutions
 Necessity to create toll road development
plan
LET’S INVEST !

INVESTMENT DIVISION
Indonesia Toll Road Authority
Ministry of Public Works and Housing

Bina Marga building, 3rd floor

Pattimura 20 Kebayoran Baru-South Jakarta 12110
Ph (021) 7258063/ 7257067
Fax (021) 7257126/ 7254415
investasi.bpjt@gmail.com
 THANK YOU

Indonesia Toll Road Authority

Ministry of Public Works and Housing
SAMARINDA – BONTANG ROAD
LOCATION: East Kalimantan

Estimated Project Cost : Under Calculation

Financial Feasibility:
IRR : Under Calculation
NPV : Under Calculation

Indicative Government Support & Guarantee:

Description : Government Support and government guarantee will be determined in Final
The development of road infrastructure is an Business Case Study.
absolute necessity for the development of
transportation, improvement of the economy and
regional development in East Kalimantan. In an effort
to the fulfill of infrastructure the road, and through
taking into account the limited time the government
of East Kalimantan on one side and see any chance
private investment on the other side, the
government of East Kalimantan makes policies to
draw private investors into the field of a
motorway/toll by involving the private sector is
Implementation Schedule (ETA):
expected to the acceleration of providing 1. Preparation : 2017 - 2018
infrastructure for the increase in community welfare 2. Larap, Land Acquisition &
can be achieved.
Tender for SPC : 2018 - 2019
Business Opportunity: 3. Construction : 2018 - 2019
Transaction adviser/bidder/financier 4. Operation : 2020
Project Status:
Under Preparation
YOGYAKARTA – SOLO TOLL ROAD
LOCATION: Yogyakarta - Central Java

Estimated Project Cost : Under Calculation

LOCATION MAP
Financial Feasibility:
FIRR : Under Calculation
NPV : Under Calculation

Description :
Jogja – Solo Toll Road will cross Sleman District in Indicative Government Support & Guarantee:
Yogyakarta and 3 districts in East Jawa; Surakarta Government Support and government guarantee will be determined in Final
District, Sukoharjo District and Klaten District. Business Case Study.
Sleman is well-developing district especially in
trading. The other three district have own
potential resources which will attract economic
growth around East Java. This toll road is
approximately 400 km in length.

Implementation Schedule (ETA):

1. Preparation : N/A
Business Opportunity: 2. Larap, Land Acquisition &
Transaction adviser/bidder/financier Tender for SPC : N/A
3. Construction : N/A
Project Status: 4. Operation : N/A
In the OBC facilitation phase by KPPIP
YOGYAKARTA – BAWEN TOLL ROAD
LOCATION: Yogyakarta - Central Java

Estimated Project Cost : USD 270.0 million

LOCATION MAP
Financial Feasibility:
FIRR : 14%
NPV : Under Calculation

Description :
This toll road is 71,56 km toll road will be
divided into three section: Indicative Government Support & Guarantee:
1. Section 1, Bawen to Secang (STA Government Support and government guarantee will be determined in Final
0+000 to STA 22+200) including Business Case Study.
Bawen Junction and Secang Junction;
2. Section 2, Secang to Borobudur (STA
22+200 to STA 53+500) without
junction;
3. Section 3, Yogyakarta to Borobudur
(STA 53+500 to STA 71+393.852)
including Borobudur Junction. Implementation Schedule (ETA):
1. Preparation : 2007 - 2018
2. Larap, Land Acquisition &
Business Opportunity:
Tender for SPC : 2018
Transaction adviser/bidder/financier
3. Construction : 2018 - 2019
4. Operation : 2020
Project Status:
Preparation of OBC
Terbanggi Besar – Pematang Panggang – Kayu Agung

Terbanggi Besar – Pematang Panggang Seksi-3 85,00 km

STA. 100+000 – STA. 185+600

Seksi-1 45,00 km Seksi-2 55,00 km

STA. 0+000 – STA. 45+000 STA. 45+000 – STA. 100+000

Penetapan Lokasi 74 km

Pematang Panggang – Kayu Agung

Technical Data:
Lenght : 185 km
Speed Design : 100 km/jam
Total Lane : 2 x 2 Lane (Initial
stage)
Total IC : 5 IC
Consession : 40 yr
Tarrif (Gol. I) : Rp 900/km (2019 yr)
Initial Traffic Volume :
6.419 Vhc/day (2019 yr)
Investment Cost : Rp. 21,950 Tn
Finishing Target : June 2018
36
Kisaran – Tebing Tinggi

Technical Data:
Lenght : 68,9 km
Speed Design : 100 km/jam
Total Lane : 2 x 2 Lane (Initial
stage)
Total IC : 4 IC
Consession : 40 yr
Tarrif (Gol. I) :-
Initial Traffic Volume :-
Investment Cost : Rp. 13,454 Tn
(Estimate)
Finishing Target : Des 2019

37
Palembang – Tj Api Api

Technical Data:
Lenght : 70 km
End Point Speed Design : 100 km/jam
Total Lane : 2 x 2 Lane (Initial stage)
Total IC : 4 IC
Consession : 40 yr
Tarrif (Gol. I) :-
Initial Traffic Volume :-
Investment Cost : Rp. 14,289 Tn (Estimate)
Finishing Target : Des 2019

Start Point

38
Medan – Banda Aceh

Technical Data:
Lenght : 470 km
Speed Design : 100 km/jam
Total Lane : 2 x 2 Lane (Initial stage)
Total IC : 23 IC
Consession : 40 yr
Tarrif (Gol. I) :-
Initial Traffic Volume :-
Investment Cost : Rp. 70,12 Tn (Estimate)
Finishing Target : Des 2025

39
Padang – Pekanbaru

Technical Data:
Lenght : 240 km
Speed Design : 60 - 100 km/jam
Total Lane : 2 x 2 Lane (Initial stage)
Total IC : 9 IC
Consession : 40 yr
Tarrif (Gol. I) :-
Initial Traffic Volume :-
Investment Cost : Rp. 65 Tn (Estimate)
Finishing Target : Des 2024

40
Kuala Tanjung – Tebing Tinggi – Parapat

Technical Data:
Lenght : 98,50 km
Speed Design : 100 km/jam
Total Lane : 2 x 2 Lane (Initial stage)
Total IC : 6 IC
Consession : 40 yr
Tarrif (Gol. I) :-
Initial Traffic Volume :-
Investment Cost : Rp. 8,2 Tn (Estimate)
Finishing Target : Des 2022

41
 Trans Java Toll Road Progress of
Toll Road Projects

1 2 3

4
5 8
7
6

INFORMATION :
Total Length : 498,23 km
Total Investment : IDR 47,09 T
Total Land Cost : IDR 5,24 T
Total Construction Cost : IDR 26,2 T

Link Number 1 2 3 4 5 6 7 8

Link Name Pejagan - Pemalang - Batang Batang-Semarang Semarang - Solo Solo - Ngawi Ngawi - Kertosono Mojokerto-Jombang- Mojokerto - Surabaya
Pemalang Kertosono

Toll Road Company PT Pejagan PT Pemalang PT Jasamarga PT Transmarga PT Solo Ngawi Jaya PT Ngawi Kertosono Jaya PT Marga Harjaya PT Marga Nujayasumo
Pemalang Tol Road Batang Tol Road Semarang Batang Jateng Infrastruktur Agung

Length (km)/ Total of 57,50/4 39,20/2 75,00/5 72,64/5 90,10/4 87,02/4 40,50/4 36,27/5
section

Investment (IDR Trillion) 6,84 4,08 11,05 7,52 5,14 3,83 3,48 4,98

Land Cost (IDR Trillion)

/Progress 1,276/99,87% 1,406/99,86% 0,584/93,94% 0,927/99,39% -/88,13% -/99,36% 0,485/100% 0,557/100%

Construction Cost 3,39 2,27 7,66 3,11**) 3,20 2,36 2,38 1,83
(IDR Trillion)

Target Operates 2017 2018 2018 2018 2017 2018 2017 2017

71,05% Total Gov TRC Total Gov TRC

77,73% 94,19% (Bandar- 90,01%
Construction Progress 51,71% 34,57% (Semarang-Bawen
(Section I &III) 74,88% 98,21% 71,05% 43,14% 9,70 69,83% Jombang Section) (Section IA & IV)
Section)

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Jabodetabek Toll Road Progress of
Toll Road Projects
MERAK TJ. PRIOK ACCESS
- TANGERANG
TOLL ROAD 6 LINKS OF DKI JAKARTA TOLL ROAD
RAWA
BUAYA
1 6 CIBITUNG - CILINCING
3 4 Investment
TELUK NAGA - SEDYATMO
1 2 Number Link Length (Km)
TANAH
ABANG (IDR Billion)
5 PULO
GEBANG
ULUJAMI
1 Semanan - Sunter 20,23 11.060
KP. MELAYU

6 2 Sunter – Pulo Gebang 9,44 4.918

8
KUNCIRAN 2 TMII
- SERPONG PASAR
MINGGU 3 DuriPulo – Kampung Melayu 12,65 8.167
TOLL ROAD

10 11 4 Kemayoran – Kampung Melayu 9,60 4.934

3
SERPONG
- CINERE JAKARTA 5 Ulujami – Tanah Abang 8,70 6.114
TOLL ROAD 4 5 - CIKAMPEK
TOLL ROAD 6 Pasar Minggu – Casablanca 9,16 5.981
CINERE CIMANGGIS
- JAGORAWI - CIBITUNG
TOLL ROAD TOLL ROAD
TOTAL 69,77 41.174
ANTASARI
- DEPOK
7
TOLL ROAD
INFORMATION :
BOGOR
RING ROAD
Total Length : 263 Km
Total Investment : IDR 82,13 T
9
Total Land Cost : IDR 14,69 T
Total Construction Cost : IDR 39,42 T
Link Number 1 2 3 4 5 6 7 8 9 10 11

Cengkareng – Kunciran – Serpong – Cimanggis – Cibitung – Depok – Bekasi – Cawang 6 ProjectTol Serpong-
Link Name Batu – Ceper – Serpong Cinere Cinere – Jagorawi Cibitung Cilincing Antasari – Kp. Melayu Bogor Ring Road DKI Jakarta Balaraja
Kunciran

PT Marga PT Marga PT Serpong PT Translingkar PT Cimanggis PT MTD CTP PT Citra PT Kresna PT Marga Sarana PT Jakarta Toll PT Trnas Bumi
Toll Road Company Kunciran Trans Cinere Jaya Kita Jaya Cibitung Tollways Expressway Waspphutowa Kusuma Dyandra Jabar Road Serbaraja
Cengkareng Nusantara Marga Development

Length (km)/Total of 14,19/4 11,19/2 10,14/2 14,64/3 25,39/4 34,02/4 21,54/5 21,04/2 11,00/3 69,77/6 30/3
Section

Investment (IDR 5.009 3.486 2.219 3.211 4.524 4.22 2.999 7.200 2.049 41.174 6,04
Trillion)

Land Cost (IDR Trillion) 1,219/ 0,712/ 0,930/ 1,314/ 0,288/ 0,769/ 0,449**/ 0,983/ 5,28/ 1,75/81%
/Progres 0,989/60,16%
25,26% 80,72% 66,21% 21,65% 29,17% 41,96% 68,87% 99,55% 0% (Seksi I)

Construction Cost
(IDR Trillion) 1,96 1,27 0,88 1,11 1,61 2,50 1,46 4,78 0,53 20,62 2,70

Target Operates 2019 2019 2019 2018 2019 2019 2019 2019 2019 2021 2019

Land Land 50,39% Land 78,46% Land

Construction Progress 1,48% 4,48% 17,17% 46,15% 13,29%
Acquisition Acquisition (Section I & III ) Acquisition (Section I & IIA) Acquisition

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Trans Sumatera Toll Road Progress of
Link Number 1 2 3 4
Toll Road Projects
BANDA
Terbanggi ACEH SIGLI
LHOKSEUMAWE
Bakauheuni – Besar – Kayu Agung –
Link Name Terbanggi Pematang Palembang – Palembang – Indralaya *)
Besar *) Panggang- Betung
Kayuagung
LANGSA

PT Sriwijaya
Toll Road PT. Hutama PT.
Markmore PT. Hutama Karya
Company Karya HutamaKarya
Persada MEDAN

Length (km) /
9 TEBINGTINGGI

Total of Section
155/ 3 185 112 / 3 24,5 / 3 8 7
P. SIANTAR KISARAN

Investment
16,80 13,57 14.44 3,30
(IDR Trillion) BALIGE

RT. PRAPAT

Land Cost (IDR 1.196/ 450/ 205/

-
Billion) /Progres 78,31% 65,71% 93,61% SIBOLGA

Construction Cost
12.22 16,65 9.84 2.63
(IDR Trillion)
6
Target Operates 2018 2018 2018 2017 PEKANBARU
BANGKINANG

Construction PANGKALAN

40,87% - 10,93% 62,78% KERINCI

Progress
BK. TINGGI
RENGAT

Link Number 5 6 7 8 9
PADANG
Palembang- Pekanbaru – Kisaran – Medan –
Medan –
Link Name Tanjung Api Kandis – Dumai Tebing Kualanamu –
Binjai *)
Api*) *) Tinggi*) Tebing Tinggi
JAMBI
Toll Road PT. Hutama PT. Hutama PT. Hutama PT. Jasamarga PT. Hutama
Company Karya Karya Karya Kualanamu Toll Karya

Length (km) /
70 135 /- 60 62 / 5 17/ 3
5
Total of Section BETUNG

4 PALEMBANG
Investment
14,29 16,21 2,31 4,072 2,74
LB. LINGGAU
PRABUMULIH 3
(IDR Trillion) CURUP KAYUAGUNG

BENGKULU MUARAENIM
Land Cost (IDR 974/ 441/ 495/
442 LAHA
Billion) /Progres 50,51% 92,46% 85,37% 2
INFORMATION :
Construction Cost
9,532 - 1,759 1,294
(IDR Billion) Total Length : 820 Km
Target Operates 2019 2019 2019 2017 2018 Total Investment : IDR 87,73 T
LAMPUNG

*) Assignment for PT Hutama Karya 1

Construction
0,76% - 69,44% BAKAUHUNI
Progress 68,29% **) Unsolicited

Indonesia Toll Road Authority, Ministry of Public Works and Housing

 Non Trans Java Toll Road Progress of
Toll Road Projects

1
5

2 3
6

INFORMATION :
Total Length : 325,09 Km
Total Investment : IDR 49,04 T
Total Construction Cost : IDR 26,145 T

Link Number 1 2 3 4 5 6 7 8

Gempol – Pasuruan – Waru (Aloha) – Balikpapan-

Link Name Ciawi - Sukabumi Pasuruan Probolinggo Wonokromo – Pasirkoja-Soreang Pandaan-Malang Samarinda Manado-Bitung
Tj. Perak

PT Trans Jabar PT Trans Marga PT Transjawa PT Margaraya Jawa PT Citra Marga PT Jasamarga PT Jasamarga PT Jasamarga
Toll Road Company Tol Jatim Pasuruan Paspro Jalan Tol Tol Lintas Jabar Pandaan-Malang Balikpapan Manado-Bitung
Samarinda
Length (km)/ Total of 54,00/4 34,15/3 31,30/3 18,20/4 10,57/3 37,62/5 99,35/5 39,90/2
Section
Investment (IDR Trillion) 7,775 4.031 3,551 11,111 1,510 5,97 9,97 5,12

Land Cost (IDR Trillion) 0,824/ 0,256/ 0,216/ 1,425/ -/

/Progres 1,35/68,46% 1,91/79,69% 1,20/48,35%
27,88% 76,91% 92,43% 0% 99,76%
Construction Cost
(IDR Trillion) 4,17 1,68 1,56 3,97 1,145 3,81 6,54 3,27

Target Operates 2019 2018 2018 > 2019 2016 2019 2019 2019

Construction Progress 11,00% 45,54% 12,53% Land Acquisition 87,09% 7,47% 24,91% 7,00%

Indonesia Toll Road Authority, Ministry of Public Works and Housing