TOLL ROAD BUSINESS
OPPORTUNITY IN INDONESIA
Presented by,
Abdul Hadi Hs.
Director of Business Development
ONE DAY SEMINAR
INDONESIA : BUSINESS AND INVESTMENT
OPPORTUNITIES
,
MAY 21
ST, 2014
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
TOLL ROAD DEVELOPMENT OPPORTUNITY
Government of Indonesia plans to
develop
4.500 Km toll road
within 2010-2030;
Java$Sea$ Timor$Sea$ Strait$of$ Malacca$ Banda$Sea$ $$$$Indian$Ocean$ SULAWESI( PAPUA( KALIMANTAN( MALUKU( SUMATRA( CENTRAL JAVA!
Semarang: 24.75 km
!
Semarang-Solo: 75.7 km
(1) EAST JAVA!
Surabaya-Gempol: 49.0 km
!
Gempol-Pasuruan: 34.15 km(1)
!
Surabaya-Mojokerto: 36.3 km(1)
!
Gempol-Pandaan: 13.61 km(1) NORTH SUMATERA
!
Belmera: 42.7 km
!
Medan - Kualanamu –
Tebing Tinggi : 62 Km
GREATER JAKARTA & WEST JAVA!
Jagorawi: 59.0 km
!
Jakarta-Tangerang: 33 km
!
Ulujami-Pondok Aren: 5.55 km
!
Jakarta Inner Ring Road: 23.55 km
!
Prof. Dr. Ir. Sedyatmo: 14.3 km
!
Jakarta-Cikampek: 83.0 km
!
JORR: 43 km
!
Cikampek-Padalarang: 58.5 km
!
Padalarang-Cileunyi: 64.4 km
!
Palikanci: 26.3 km
!
Bogor Outer Ring Road: 11.0 km(1)
!
Cengkareng-Kunciran: 15.2 km(1)
!
Kunciran-Serpong: 11.2 km(1)
!
JORR W2 North: 7.67 km(1)
JAVA$ BALI$
BALI
!
Nusa Dua-Ngurah Rai-Benoa: 10 km
Jasa Marga manages and
operates
owned
74%
market
SUBSIDIARIES 1. PT MSJ 2. PT TJP 3. PT TMJ 4. PT MKC 5. PT MTN 6. PT MNA 7. PT MLJ
8. PT Jasamarga Pandaan Tol
9. PT JBT
B
USINESS STRUCTURE OF
PT JASA MARGA (Persero) Tbk
.
Toll Road Operation
SUBSIDIARIES
1. PT Sarana Marga Utama (Toll Road
Maintenance Services)
2. PT Jalantol Lingkarluar Jakarta (Toll Road
Operation Services)
3. PT Jasamarga Properti
(Property Development Services)
BUSINESS UNITS
1. Rest Area Management Business Unit (Rest
Area Management and Development Services)
2. Jasa Marga
Development Centre Unit (HRD Training and
Development Services)
Related Business Development
Toll Road Business Development
Majority
Share Holder
BRANCHES
1. Cawang Tomang Cengkareng
2. Belmera
3. Jakarta Tangerang
4. Jakarta Cikampek
5. Jakarta Bogor Ciawi
6. Purbaleunyi
7. Semarang
8. Surabaya Gempol
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
FINANCIAL PERFORMANCE OF
PT JASA MARGA (PERSERO) TBK.
New Toll Road
Investment
Progres
s
Assets Growth
0.107
0.273
0.446
0.745
1.095
-
2.00
4.00
6.00
8.00
10.00
12.00
2009
2010
2011
2012
2013
$1.617$$
(1.895(( (2.092((
(2.475((
$2.837$$
-
5.00
10.00
15.00
20.00
25.00
30.00
2009
2010
2011
2012
2013
CAG
R 15
,1%
* Compound Annual Growth Rate
During the last 5 years, the progress of new
toll roads investment is dramatically, reflected
to the growth of toll road assets specially on
subsidiaries
The growth of investment progress of new
toll roads have significant impact to the
growth of company’s assets
USD(Billion(
USD(Billion(
1.20
1.00
0.80
0.60
0.40
0.20
3.00
2.50
2.00
1.50
1.00
0.50
Government build the public
road network
Public
State/Local Budget
(APBN / D)
Toll road users
fund
Non Toll Road
(financially feasible)
Toll Road
Available
Fund
Bridging by Investor
& Bank
Source of fund
Toll
Public Taxes
Toll Road
(financially not feasible)
Source of Public Road Network Development Fund
TOLL ROAD CONCEPT
Toll Road is
return
back to the Government in theend of concession period
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
REGULATION SCHEME
30% Shareholding Since 12 Nov 2007Private Toll Road Investors Private Toll Road Investors
GOVERNMENT
of Indonesia
Directorate General
Of
Highway
The Ministry of
State Owned Enterprises
The Ministry of
Public Works
Indonesia Toll
Road Authority
Establishment
of Road
Network Plan
and Technical
Spesification
Provide
concessions and
oversee its
implementation
Toll Road Private Investor
(38 Investor)
Toll Road Concession
Agreement
70% Shareholding
Public
Toll Road Concession Agreement
Th e b egi n n in g of con ce ss ion p er iod O p er ati on al comme n ce me n t En d of con ce ss ion p er iod
Payback Period
O/M Cost
C
os
t of I
n
ve
stme
n
t & O
p
er
ati
on
(C
u
mmu
lati
ve
P
V
)
∑
Rp
Time
Investor Profit
Toll road is
returned back
to
Government
Enjoyment
Period
Concession Period (35 - 45 Years)
Scheme of Investment Return
Construction
Land
Acquisition
TOLL ROAD INVESTMENT
CHARACTERISTICS
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
RISK ALLOCATION
Land
Acquisition
Road Network
Master Plan
Tariff
Setting
Social/Politic
Issues
Force
Majeure
Construction
Interest
Rate
O&M
Cost
Traffic
Volume
Force
Majeure
IIGF
(Indonesia
Infrastructure
Guarantee
Fund)
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
o
Trans Sumatera corridor extend from
Bakauheni through Banda Aceh, along
Sumatera East Coast.
o
The total length reached
1.
980 km
o
Trans Sumatera connects 7 7 big cities
(Natiional activity center), 5 airports, 6
ports and Bandar Lampung – Palembang
Railways.
MEDAN-BINJAI
PEKANBARU-KANDIS-DUMAI
Kayu Agung-Palembang-Betung
MEDAN-KUALANAMU-TEBING TINGGI
PADANG-SICINCIN
MEDAN-KUALANAMU-TEBING TINGGI TOLL ROAD
PROJECT
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
MEDAN-BINJAI TOLL ROAD PROJECT
Binjai Medan
Medan Binjai
Dumai
PEKANBARU
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
MALANG
LAWANG
PAKIS INTERCHANGE LAWANG INTERCHANGE PURWODADI INTERCHANGEL = 37.618 Km
L = 23.2 Km
PHASE-1
L = 14.418 Km
PHASE-2
SAWOJAJAR IC BEGINNING POINTPURWODADI
PANDAAN END POINT
1. Trase Jalan Tol Malang - Pandaan
PANDAAN
Elements Characteristics
Length 38,7 Km
Investment Cost (USD 418 Million)
FIRR 16,78%
Toll Tariff (Class I, 2017) (USD 0,08) /Km Concession period 35 years Construction period 2 years
24.000 Vehc/day
SECTION – 1 : 13,5 km RR MANADO – AIRMADIDI LAND ACQUISITION : 100 % SECTION – 2 : 25,5 km AIRMADIDI – BITUNG LAND ACQUISITION : 31,3 % IC SUKUR STA 07+200 IC AIRMADIDI STA 12+600 iC KAUDITAN STA 19+800 IC DANOWUDU STA 28+900 IC BITUNG STA 38+700
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
Government Portion (29,4 Km) Private’s Portion (30,9 Km)
C O N S T R U C T I O N C O S T LAND ACQUSITION (by GOVERNMENT)
OPERATION (BY PRIVATE )
LAND ACQUSITION (by PRIVATE)
Elements$ Characteristics$
Length( 60, 3 Km(
Design Speed( 80 Km/hr(
Number of lane( 2x2 lanes (start), 2x3 lanes (final)(
Lane of width( 3,6 m(
Outer Shoulder width( 3,0 m(
Inner shoulder width( 1,5 m(
Median width( 13 m(
Elements$ Characteristics$
Construction Cost IDR 5.390 Billion (USD 559,36 Million)
Investment Cost IDR 9.258 Billion (USD 960, 77 Million)
FIRR 14,18%
Concession Period 35 Years
Toll Tariff/Km (2017) IDR 800/USD 0,083
Land Acquisition Progress Section I (Cileunyi – Tanjungsari) : 37,16%, Section II (Tanjungsari-Sumedang) :
45,28%, Section III (Sumedang – Cimalaka) : 0%, Section IV (Cimalaka-Legok) : 0%, Section V (Legok – Ujung Jaya) : 0%, Section VI (Ujung Jaya – Kertajati) : 0% Total : 21,62%
Construction period 2 Years (2014-2016)
Operation (year) 2017
Government Support To get FIRR 16% on 2017, it is required IDR 1.261.619 Million (USD 130,91
Million) Government Support, so that the investment cost will be IDR 7.323.928 Million (USD 759,98 Million)
CILEUNYI4SUMEDANG4DAWUAN$TOLL$ROAD$(60,3$Km)$
16.921 Vehc/day
14.749 Vehc/day
16.671 Vehc/day 16.556 Vehc/day
CILEUNYI-SUMEDANG-DAWUAN TOLL ROAD
PROJECT
PASIR KOJA-SOREANG TOLL ROAD
PROJECT
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
KAB. KUTAI KERTANEGARA KOTA SAMARINDA SEPAKUTIG A Paket IV : 16,9 km Paket III : 22,6 km Paket II : 23,0 km Paket I : 25,4 km TELUK BALIKPAPAN BALIKPAPAN Paket V : 11,12 km 99,02 kmBALIKPAPAN-SAMARINDA TOLL ROAD
PROJECT
:
Railways
:
Toll Road
KETERANGAN :
DAAN MOGOT-CENGKARENG TOLL ROAD
PROJECT
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
KALIBARU-KBN MARUNDA TOLL ROAD
PROJECT
Tanjung Priok Cibitung-Cilincing Toll Road Kalibaru-KBN Marunda Toll RoadATAS LAUT JAKARTA-SURABAYA TOLL ROAD
PROJECT PLAN
Rencana Jalan Tol
Jakarta-Semarang Section Semarang-Surabaya Section
+100 km Alt-1 Alt-2 Jkt-Smr = 405 km Smr-Sby = 274 km Jkt-Sby = 679 km
Semarang-Surabaya Section
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
POTENTIAL TOLL ROAD FOREIGN
PARTNERSHIP
POSCO E & C – South Korea
"
MoU
has been signed
on April 22, 2014
.
"
The first target in partnertship is Manado-Bitung Toll Road and the
regional development along the highway corridor.
WEST NEXCO LTD. AND JEXWAY LTD. – Japan
"
MoU has been signed on April 22, 2014
.
"
The first target in partnertship is Cibitung-Cikarang Toll Road.
CMS Int. – Malaysia
"
MoU has been signed on April 22, 2014
.
"
The additional scope of Cengkareng-Kunciran project (Daan
PT JASA MARGA (Persero)
PT Jasa Marga (Persero) Tbk
Java$Sea$ Timor$Sea$ Strait$of$ Malacca$ Banda$Sea$ $$$$Indian$Ocean$ SULAWESI( PAPUA( KALIMANTAN( MALUKU( SUMATRA( CENTRAL JAVA!
Semarang: 24.75 km
!
Semarang-Solo: 75.7 km
(1) EAST JAVA!
Surabaya-Gempol: 49.0 km
!
Gempol-Pasuruan: 34.15 km(1)
!
Surabaya-Mojokerto: 36.3 km(1)
!
Gempol-Pandaan: 13.61 km(1) NORTH SUMATERA
!
Belmera: 42.7 km
!
Medan - Kualanamu –
Tebing Tinggi : 62 Km
GREATER JAKARTA & WEST JAVAOn Going Project by Jasa Marga and Telkom
