State-owned lender Bank Negara Indonesia (BNI) has signed an agreement with 15 other banks to finance the construction of a 39.29-kilometer toll road from Pemalang to Batang—two cities in Central Jakarta. The syndicated loan agreement of the 16 banks was signed on … Continue reading →
President Joko ‘Jokowi’ Widodo confirms that the progress of toll road development that links Jakarta and Surabaya has gone according to plan. He made the remark after he visited Solo-Kertosono toll project in Kilometer 23 in Waru village, Karanganyar, Central … Continue reading →
Waskita Karya Toll Road, a subsidiary of state-controlled construction company Waskita Karya, has given Rp 47.2 billion ($3.6 million) to Ngawi Kertosono Jaya, the company’s joint venture with state toll road operator Jasa Marga, to help finance a section of the … Continue reading →
Minister of Public Works and Public Housing Hadimulyono Basuki said the government is targeting to complete the construction of 769 kilometers (km) of new roads, including the 158 km causeway along the south coast of Java. “Anyway, the pansela (the … Continue reading →
In recent years the Indonesian government has been eager to cut energy subsidies and redirect these funds to the government’s infrastructure budget. In the 2016 State Budget a record high IDR 313 trillion (approx. USD $24 billion) was allocated to … Continue reading →