TOLL ROAD BUSINESS OPPORTUNITY IN INDONESIA Presented by,
Abdul Hadi Hs.
Director of Business Development
ONE DAY SEMINAR INDONESIA : BUSINESS AND INVESTMENT OPPORTUNITIES, MAY 21ST, 2014
TOLL ROAD DEVELOPMENT OPPORTUNITY
Government of Indonesia plans to develop 4.500 Km toll road within 2010-2030; Strait$of$ Malacca$
NORTH SUMATERA ! Belmera: 42.7 km
Jasa Marga manages and operates owned 74% market
! Medan - Kualanamu – GREATER JAKARTA & WEST JAVA SUMATRA( ! 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)
Tebing Tinggi : 62 Km
share ofMALUKU( toll road in Indonesia.
SULAWESI( KALIMANTAN(
Java$Sea$ Banda$Sea$
JAVA$
BALI$
EAST JAVA PAPUA( ! Surabaya-Gempol: 49.0 km ! Gempol-Pasuruan: 34.15 km(1) ! Surabaya-Mojokerto: 36.3 km(1) ! Gempol-Pandaan: 13.61 km(1)
Timor$Sea$
$$$$Indian$Ocean$
CENTRAL JAVA ! Semarang: 24.75 km
BALI ! Nusa Dua-Ngurah Rai-Benoa: 10 km
! Semarang-Solo: 75.7 km(1) JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk
Notes: (1) New toll roads which either in land acquisition process or in construction process, except for BORR section I (3,8 Km), Semarang-Solo section I (23 Km), JORR W2 North (7,67 Km) and Surabaya-Mojokerto section I (3 Km) which already operates.
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BUSINESS STRUCTURE OF PT JASA MARGA (Persero) Tbk.
Majority Share Holder
Toll Road Business Development SUBSIDIARIES 1. PT MSJ
BRANCHES 1. Cawang Tomang Cengkareng 2. Belmera
2. PT TJP
3. Jakarta Tangerang
3. PT TMJ
4. Jakarta Cikampek
4. PT MKC
5. Jakarta Bogor Ciawi 6. Purbaleunyi
5. PT MTN
7. Semarang
6. PT MNA
8. Surabaya Gempol
7. PT MLJ
9. Palimanan Kanci
8. PT Jasamarga Pandaan Tol
Related Business Development SUBSIDIARIES 1. PT Sarana Marga Utama (Toll Road Maintenance Services) 2. PT Jalantol Lingkarluar Jakarta (Toll Road Operation Services) 3. PT Jasamarga Properti (Property Development Services) BUSINESS UNITS 1. Rest Area Management Business Unit (Rest Area Management and Development Services) 2. Jasa Marga Development Centre Unit (HRD Training and Development Services)
9. PT JBT
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 2
FINANCIAL PERFORMANCE OF PT JASA MARGA (PERSERO) TBK.
Assets Growth
New Toll Road Investment Progress USD(Billion( 1.20 12.00
USD(Billion( 1.095
1.00 10.00
0.60 6.00
2.00 20.00
$1.617$$
(1.895((
% (2.475((
$2.837$$
(2.092((
1.50 15.00
0.446
4.00 0.40 2.00 0.20
2.50 25.00
0.745
0.80 8.00
15,1 R CAG
30.00 3.00
10.00 1.00
0.273 0.107
0.50 5.00 -
2009
2010
2011
2012
2009
2013
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
2010
2011
2012
2013
The growth of investment progress of new toll roads have significant impact to the growth of company’s assets
* Compound Annual Growth Rate JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 3
TOLL ROAD CONCEPT Source of Public Road Network Development Fund Government build the public road network Toll Road is
Non Toll Road
Toll Road (financially not feasible)
Toll Road (financially feasible)
return
back to the Government in the end of concession period
Bridging by Investor & Bank
Toll road users fund
State/Local Budget (APBN / D) Public Taxes
Available Fund
Toll
Public
Source of fund
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 4
TOLL ROAD CONCEPT REGULATION SCHEME
GOVERNMENT of Indonesia
The Ministry of State Owned Enterprises
The Ministry of Public Works
70% Shareholding
Provide concessions and oversee its implementation
30% Shareholding Public
Since 12 Nov 2007
Indonesia Toll Road Authority
Toll Road Concession Agreement
Directorate General Of Highway
Establishment of Road Network Plan and Technical Spesification
Toll Road Concession Agreement
Toll Road Private Investor
(38 Investor)
Private Toll Road Investors Private Toll Road Investors
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 5
Scheme of Investment Return Investor Profit Deficit Cash Flow (5-7 years)
O/M Cost
The beginning of concession period
Land Acquisition
Payback Period
Enjoyment Period
Time End of concession period
Construction Operational commencement
Cost of Investment & Operation (Cummulative PV) ∑ Rp
TOLL ROAD INVESTMENT CHARACTERISTICS
Concession Period (35 - 45 Years)
Toll road is
returned back to Government
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 6
RISK ALLOCATION Land Acquisition
Road Network Master Plan
Force Majeure
Social/Politic Issues
Construction
Traffic Volume
Tariff Setting
Interest Rate
IIGF (Indonesia Infrastructure Guarantee Fund)
Force Majeure JasaMARGA Marga (Persero) Tbk PTPT JASA (Persero)
O&M Cost
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JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 8
TRANS SUMATERA TOLL ROAD PROJECT
MEDAN-KUALANAMU-TEBING TINGGI
MEDAN-BINJAI
PEKANBARU-KANDIS-DUMAI PADANG-SICINCIN
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.
Kayu Agung-Palembang-Betung
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MEDAN-KUALANAMU-TEBING TINGGI TOLL ROAD PROJECT
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 10
MEDAN-BINJAI TOLL ROAD PROJECT
Binjai
Medan
Medan
Binjai
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 11
PEKANBARU-DUMAI TOLL ROAD PROJECT
Dumai
PEKANBARU
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 12
1. Trase Jalan Tol Malang - Pandaan
PANDAAN-MALANG TOLL ROAD
SAWOJAJAR IC BEGINNING POINT
MALANG
24.000 Vehc/day PURWODADI INTERCHANGE
LAWANG
PANDAAN
PURWODADI
PAKIS INTERCHANGE
PANDAAN END POINT LAWANG INTERCHANGE
L = 23.2 Km PHASE-1 Elements Length Investment Cost FIRR Toll Tariff (Class I, 2017) Concession period Construction period
L = 37.618 Km Characteristics
L = 14.418 Km PHASE-2
38,7 Km (USD 418 Million) 16,78% (USD 0,08) /Km 35 years 2 years
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 13
MANADO-BITUNG TOLL ROAD PROJECT
IC BITUNG STA 38+700 IC DANOWUDU STA 28+900
IC SUKUR STA 07+200
iC KAUDITAN STA 19+800
IC AIRMADIDI STA 12+600
SECTION – 1 : 13,5 km RR MANADO – AIRMADIDI LAND ACQUISITION : 100 %
SECTION – 2 : 25,5 km AIRMADIDI – BITUNG LAND ACQUISITION : 31,3 %
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CILEUNYI-SUMEDANG-DAWUAN TOLL ROAD PROJECT CILEUNYI4SUMEDANG4DAWUAN$TOLL$ROAD$(60,3$Km)$ 16.671 Vehc/day
16.921 Vehc/day
16.556 Vehc/day
14.749 Vehc/day LAND ACQUSITION (by GOVERNMENT)
LAND ACQUSITION (by PRIVATE)
Government Portion (29,4 Km)
Private’s Portion (30,9 Km)
CONSTRUCTION COST OPERATION (BY PRIVATE ) Elements$ Length( Design Speed( Number of lane(
Characteristics$ 60, 3 Km( 80 Km/hr( 2x2 lanes (start), 2x3 lanes (final)(
Lane of width( Outer Shoulder width(
3,6 m( 3,0 m(
Inner shoulder width(
1,5 m(
Median width(
13 m(
Elements$ Construction Cost Investment Cost FIRR Concession Period Toll Tariff/Km (2017) Land Acquisition Progress
Construction period Operation (year) Government Support
Characteristics$ IDR 5.390 Billion (USD 559,36 Million) IDR 9.258 Billion (USD 960, 77 Million) 14,18% 35 Years IDR 800/USD 0,083 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% 2 Years (2014-2016) 2017 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)
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 15
PASIR KOJA-SOREANG TOLL ROAD PROJECT
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 16
BALIKPAPAN-SAMARINDA TOLL ROAD PROJECT KOTA SAMARINDA
Paket IV : 16,9 km
Paket III : 22,6 km
99,02 km Paket II : 23,0 km SEPAKUTIG A
KAB. KUTAI KERTANEGARA
Paket I : 25,4 km
Paket V : 11,12 km TELUK BALIKPAPAN
BALIKPAPAN
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 17
DAAN MOGOT-CENGKARENG TOLL ROAD PROJECT
KETERANGAN :
: :
Railways Toll Road JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 18
KALIBARU-KBN MARUNDA TOLL ROAD PROJECT
Kalibaru-KBN Marunda Toll Road Tanjung Priok
Cibitung-Cilincing Toll Road
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ATAS LAUT JAKARTA-SURABAYA TOLL ROAD PROJECT PLAN Jakarta-Semarang Section
Semarang-Surabaya Section
Jkt-Smr = 405 km Smr-Sby = 274 km Jkt-Sby = 679 km Alt-1 Alt-2
+100 km
Rencana Jalan Tol
Semarang-Surabaya Section
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 20
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 MogotCengkareng). JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 21
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 22
Information Technology Development in Jasa Marga Toll Roads Strait$of$ Malacca$
Jasa Marga manages and operates 573 km toll road and
NORTH SUMATERA ! Belmera: 42.7 km
! Medan - Kualanamu –
owned 74% market share of toll road in Indonesia.
Tebing Tinggi : 62 Km GREATER JAKARTA & WEST JAVA SUMATRA( On Going Project by Jasa Marga and Telkom ! 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)
TOWE R
DIGITAL SIGNAG E
MALUKU(
SULAWESI( KALIMANTAN(
Java$Sea$ Banda$Sea$
JAVA$
BALI$
EAST JAVA PAPUA( ! Surabaya-Gempol: 49.0 km ! Gempol-Pasuruan: 34.15 km(1) ! Surabaya-Mojokerto: 36.3 km(1) ! Gempol-Pandaan: 13.61 km(1)
Timor$Sea$
$$$$Indian$Ocean$
CENTRAL JAVA ! Semarang: 24.75 km
BALI ! Nusa Dua-Ngurah Rai-Benoa: 10 km
! Semarang-Solo: 75.7 km(1)
MANAG E LINE
WIFI.ID
eMONEY
TOLL INFORMATIO DATA N SYSTEM Jasa Marga (Persero) PTPT JASA MARGA (Persero)Tbk CENTRE
INTERNET/ INDIHOME (BUNDLING POTS, SPEEDY, USEETV)
etc 23
Property Development in Jasa Marga Toll Roads 2 locations, + 1000 Ha (Industrial Area)
3 locations, + 105.000 Ha (2 Industrial Area 1 Property Dev.)
Jakarta
2 locations + 40 Ha (Rest Areas)
+ 500 Ha (Mixed Use Area)
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 24
Potential Business Development in Manado-Bitung Toll Road Manado$200 Ha
Ecopark 2000 Ha
500 Ha
300 Ha
300 Ha 2000 Ha
400 Ha 100 Ha
100 Ha
Bitung$ 100 Ha
500 Ha
Proposed$Development$:$$
Manado – Bitung Toll Road 39km, Dual Carriageway at grade Toll Road : 1. Ring Road 1 Interchange 2. Sukur Interchange 3. Airmadidi Interchange 4. Kauditan Interchange 5. Danowudu Interchange 6. Bitung Interchange
Township$ Township$
Industrial$Complex$
Government$ Reclaimed$Industrial$$ Center$ Complex$ RecreaPon$Complex$ JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk
Brantwood$Group$of$Companies$–$27$Jan$2014$
EducaPon$City$
25 *).$Subject$to$be$validated$in$Feasibility$Study$
Terima Kasih Thank You
Further Information :
JasaMARGA Marga (Persero) PTPT JASA (Persero)Tbk 26
