REPUBLIKA.CO.ID, JAKARTA -- Three state lenders PT. Bank Rakyat Indonesia (BRI) Tbk, PT. Bank Mandiri Tbk and PT Bank Negara Indonesia Tbk have agreed to provide a syndicated loan of Rp7.7 trillion to finance the construction of a toll road project of Solo-Ngawi and Ngawi-Kertosono in Java.
The three publicly traded banks are Joint Mandated Lead Arranger and Book Runner for the project, BRI corporate secretary Hari Siaga said here on Thursday.
The three banks would team up with PT. Sarana Multi Infrastruktur, Indonesia Eximbank, Bank Jatim, Bank Jateng, and Bank DIY, Hari said.
The loan agreement was signed here on Thursday between the three banks and PT Solo Ngawi Jaya, and PT Ngawi Kertosono Jaya.
Solo Ngawi Jaya and Ngawi Kertosono Jaya are joint venture companies established by PT Jasa Marga (Persero) Tbk and PT Waskita Toll Road.
"The syndicated credit is for 15 years," Heri said.
Heri said construction of the 90.1 kilometers Solo-Mantingan - Ngawi section will cost around Rp4.37 trillion to be built by PT Solo Ngawi Jaya.
Construction of the 87.02 kilometers Ngawi-Kertosono section will cost around Rp3.37 trillion to be built by PT Ngawi Kertosono Jaya.
The to parts of the toll road is part of the Trans Java toll road.