MPTC on track to build P80-B elevated Jakarta tollway
Jakarta—Metro Pacific Tollways Corp. (MPTC) is set to build an P80-billion elevated expressway linking east and south Jakarta by the second half of next year, expanding its toll road portfolio in Indonesia.
The Pangilinan-led tollway operator and Indonesian subsidiary PT Margautama Nusantara (MUN) are finalizing the detailed design for the 21.6-kilometer (km) toll road that will be built on top of the Jakarta Outer Ring Road-1 (JORR-1).
MUN chief operating officer Joko Santoso, in a media round table on Monday, said they would construct the additional tollways to decongest the roads.
The planned elevated expressway is seen to accommodate as many as 1 million vehicles every day. JORR-1 currently accommodates 450,000 to 570,000 vehicles per day.
Should the company start building the 2×2 tollway by 2025, project completion will take three to four years.
MPTC will have a 45-year concession period to recoup its investments, which will be funded by the parent company and the subsidiary.
JORR-1 is being operated by PT Jasamarga Transjawa Tol (JTT), whose 35-percent stake was recently acquired by MPTC and partner Singaporean investor GIC.
The capital injection will allow JTT to raise funds and expand toll road networks across Indonesia.
The JTT road network, comprising 13 toll interchanges, traverses West Java, Central Java and East Java. It services 850,000 motorists on a daily basis.
Manuel Pangilinan, chair and president of MPTC parent company Metro Pacific Investments Corp. (MPIC), previously said this investment would generate P30 billion annual revenues for the company.
Apart from JTT network, MPTC currently has concessions to run four other tollway projects, spanning nearly 39 km in total, in Indonesia. These are Jakarta Lingkar Baratsatu (Jakarta International Airport Toll Road), Bintaro Serpong Damai (Commuter Road), Jalan Tol Seksi Empat (Makassar International Airport Toll Road) and Makassar Metro Network (Harbour Road).
