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Indonesia to build five toll road projects to boost economy

Xinhua, February 22, 2017 Adjust font size:

Indonesian government and private firms on Wednesday signed schemes to finance the construction of five toll road projects, which are part of national strategic projects.

The projects, worth a total of 50.9 trillion rupiah (about 3.8 billion U.S. Dollars), are aimed at spurring economy activities in North Sumatra, West Java and the national capital city.

Signing of the agreement over the five toll road projects worth a total of 50.9 trillion rupiah (about 3.8 billion U.S. Dollars) was conducted by Coordinating Minister for the Economy Darmin Nasution and representatives of firms that won state auctions over the projects.

"Those toll roads, whose constructions are underway at present, would improve the access, reduce traffic jams, enhance goods and people transport and would eventually benefit the areas passed through by those toll roads," Coordinating Minister for the Economy Darmin Nasution said after the signing event.

The financial scheme involving private firms was to address President Widodo's order to optimize government's budget to address social problems in the country, among others poverty alleviation and development in remote areas, the senior minister said.

He added that Indonesia requires some 4,800 trillion rupiah (about 358.6 billion U.S. Dollars) to finance infrastructure projects during the 5-year service term ending 2019.

Private firms were expected to contribute at least 36 percent of the total financial needs, he said.

Part of those 362-kilometer toll road projects would improve transport connections in the newly-built North Sumatra's Kuala Namu airport, a planned seaport in West Java and industrial zones built in West Java and around the capital city. Endit