TOLL ROAD RECENT DEVELOPMENT IN INDONESIA

TOLL ROAD RECENT DEVELOPMENT IN INDONESIA

Kuala Lumpur 25 May 2015 EKA PRIA ANAS BOARD MEMBER, INDONESIA TOLL ROAD AUTHORITY MINISTRY OF PUBLIC WORKS AND HOUSING

OUTLINE Indonesia Toll Road History Toll Road Master Plan Investment Scheme and Procurement Process Toll Road Projects Indonesia Toll Road Authority

ABOUT BADAN PENGATUR JALAN TOL/ INDONESIA TOLL ROAD AUTHORITY

•

• •

ITRA was established by Ministry of Public Works Regulation No. 295/PRT/M/2005 as amended by Ministry of Public Works Regulation No. 15/2014; ITRA is responsible directly to the Minister of Public Works and Housing; ITRA is responsible to: • Recommend the initial and adjusment of toll tariff to the Minister; • Conduct the toll road investment under PPP; • Monitor the construction of toll road; • Monitor the toll road operation; • Monitor the Toll Road Company during all phases of concession period (Design, Construction, Operation and Maintenance, Transfer).

Indonesia Toll Road Authority

INDONESIA TOLL ROAD AUTHORITY : ORGANIZATION STRUCTURE

Board of ITRA MPWH Representative

Head of ITRA

Profesional Association Representative

MoF Representative

Academic Representative

Secretary of ITRA

Head of Technical Division

Head of Investment Division

Head of Supervision and Monitoring Division

Head of General Affairs Division

Head of Funding Division

Head of Study Sub Division

Head of Investment Preparation & Service Sub Division

Head of Supervision Sub Division I

Head of Financial Sub Division

Head of Planning & Feasibility Sub Division

Head of Data & Technical Information Sub Division

Head of Investment Control Sub Division

Head of Monitoring Sub Division II

Head of Administration and Human Resource Sub Division

Head of Distribution & Repayment Sub Division

Head of Legal and Public Relation Sub Division


4

INDONESIA’S TOLL ROAD HISTORY (1)

1978 : The completion and operation of the 59 km Jakarta Bogor Ciawi Toll Road by PT. Jasa Marga (regulator and operator – not a good practice!) 1987 : Private sectors have actively participated in the toll road by signing the concession agreement (PKP) with PT. Jasa Marga

1997 : Monetary crisis caused the government to suspend toll road constructions program 1998 : Government issued a Presidential Decree No. 7/1998 on Public Private Partnership on the Procurement of Infrastructure Projects


INDONESIA’S TOLL ROAD HISTORY (2)

2002 : Government issued Presidential Decree No. 15/2002 on the recommencement of Infrastructure Projects. 2004 : from 2001 to 2004, four segments of toll roads were constructed of 41.80 Km in length 2004 : Law No. 38/2004 on Road mandated the formation of BPJT/ITRA as the substitute of the regulator role that was previously held by PT. Jasa Marga

2005 : ITRA was established as the toll road regulator in Indonesia. 19 toll road projects that were suspended in 1997 was recommenced.


TOLL ROAD MASTERPLAN

•

Total Length: 6.115 Km

•

Investment Cost (Est): IDR 723 T

No

Toll Roads SUMATRA ISLAND A. Trans-Sumatra

1

2 3 4 5

I. Main Projects a. Banda Aceh-Medan b. Medan-Pekanbaru c. Pekanbaru- Palembang d. Palembang-Bakauheni II. Connecting Projects a. Tebing Tinggi-Sibolga b. Pekanbaru-Padang c. Palembang-Bengkulu

B. Non Trans-Sumatra JAVA ISLAND A. Trans-Java (Merak-Banyuwangi) B. Jabodetabek C. Non-Trans Java and Non-Jabodetabek KALIMANTAN ISLAND BALI ISLAND SULAWESI ISLAND TOTAL


Operation Construction (until 2014) (Until 2019) 43 346 43 346 43 43 -

324 16 197 111 22 22

749 363 209 177 10 18

1,078 654 250 174 99 39

820

1,562

Program (2015 - 2025) 2,476 2,451 1,681 455 335 556 335 770 200 240 330

TOTAL 2,865 2,840 2,048 471 575 667 335 792 200 240 352

25 988 170 71 747 219 50

25 2,815 1,187 530 1,098 99 229 107

3,733

6,115

TOLL ROAD ACHIEVEMENT : 2005 – 2015 No

Toll Road Project

Length (Km)

Toll Road Company

Operation Date

1

Cikampek - Purwakarta - Padalarang

58.50

PT Jasa Marga (Persero) Tbk

26 April 2005

2

JORR W2S (Pondok Pinang-Veteran)

5.72


11 November 2005

3

JORR S1 North Section 3 (Pondok Pinang-Taman Mini)

4.35


1 September 2006

4

JORR E3 (Cakung-Cilincing)

3.75


24 May 2007

5

JORR E1 North Section 4 (Hankam Raya-Cikunir)

3.75


28 August 2007

6

SS Waru-Bandara Juanda

12.80

PT Citra Margatama Surabaya

27 April 2008

7

Makassar Section IV

11.60

PT Jalan Tol Seksi Empat

24 September 2008

8

Surabaya Madura Bridge

5.40


10 June 2009

9

Kanci-Pejagan

35.00

PT Semesta Marga Raya

26 January 2010

10

JORR W1 (Kebon Jeruk-Penjaringan)

9.85

PT Jakarta Lingkar Baratsatu

22 February 2010

11

Surabaya-Mojokerto Section I (Waru Sepanjang)

1.89

PT. Marga Nujyasumo Agung

26 August 2011

12

Semarang Solo Section I (Semarang-Ungaran)

11.00

PT. Trans Marga Jateng

10 November 2011

13

Bogor Ring Road Section I (Sentul Selatan-Kedung Halang)

3.85

PT Marga Sarana Jabar

29 November 2011

14

Cinere-Jagorawi Section I (Jagorawi-Raya Bogor)

3.50

PT Translingkar Kita Jaya

3 February 2012

15

Bali Mandara (Nusa Dua-Ngurah Rai-Benoa)

10.00

PT Jasamarga Bali Tol

23 September 2013

16

Semarang-Solo Section II (Ungaran-Bawen) Bogor Ring Road Section IIA (Kedung Halang-Kedung Badak)

11.95

PT Trans Marga Jateng

4 April 2014

1.95

PT Marga Sarana Jabar

28 May 2014

18

JORR W2 North (Kebon Jeruk-Ulujami)

7.87

PT Marga Lingkar Jakarta

21 July 2014

19 20

Kertosono-Mojokerto Section I (Bandar-Jombang) Porong - Gempol

14.41 3.5

PT Marga Harjaya Infrastruktur PT Jasa Marga (Persero) Tbk

13 October 2014 18 May 2015

17

Total


213.64

TRANS JAVA TOLL ROAD DEVELOPMENT Serang

9 TRANS JAVA TOLL ROAD PROJECTS WITH THE TOTAL LENGTH OF 615 KM

DKI Jakarta

Banten

73 KM

288 KM

Cikampek

177,12 KM

76,77 KM

Palimanan

Bogor

1 Pejagan Pemalang

Kanci Sukabumi

Ciranjang

Bandung

Semarang Demak

(K) Batang

2

Remarks : Jawa Barat : Operation : Land Acquisition and Construction : Preparation of Land Acquisition Investment Cost Total : IDR 51.41 Trillion Land Cost Total : IDR 511 Billion Length Total : 615 KM

3

4

9

Ngawi

5

Jawa Tengah

Solo

7

Kertosono

6 Yogyakarta

8

Pasuruan

Gempol Pandaan

Probolinggo

DIY

Malang

Jawa Timur *) as of 15 May 2015

3

Cikampek – Palimanan

Pejagan Pemalang

Pemalang Batang

Batang Semarang

Semarang - Solo

Solo - Ngawi

Ngawi - Kertosono

MojokertoJombangKertosono

Mojokerto Surabaya

Toll Road Company

PT. Lintas Marga Sedaya

PT. Pejagan Pemalang Toll Road

PT. Pemalang Batang Toll Road

PT. Marga Setia Puritama

PT. Trans Marga Jateng

PT. Solo Ngawi Jaya

PT. Ngawi Kertosono Jaya

PT. Marga Harjaya Infrastruktur

PT. Marga Nujyasumo Agung

Length (km)/Section Number

116.75/6

57.50/4

39.20/2

75.00/5

72.64/5

90.10/4

87.02/4

40.50/4

36.27/5

12.6

5.52

4.08

7.23

6.21

5.14

3.83

3.48

3.4

0.691/1,076

1.081/429.79

0.803/279.36

1.575/666.67

1.842/691.89

1.778/748.03

1.084/619.19

0.485/281.56

1.508/280.36

Operation (overall)

2015

2018

2018

2018

2018

2018

2018

2017

2017

Concession Period (years)

35

45

45

45

45

35

35

35

42

100.00%

41.95%

1.86%

17.58%

57.42%

91.57%

68.70%

93.28%

89,52%

Section I (96.14%), Section II (79.43%), Section III (99.08%), Section IV (86.80%), Section V (89.67%), Section VI

Section I (23.16%) Section II (25.33%)

Investment Cost (IDR Trillion) Land Cost (IDR Trillion)/Ha

Land Acq *)

Progres s

Construction Indonesia Toll Road Authority***)

-

Section I –II (100%), Section III—V (0%), Total (31.43%)

6

7

Banyuwangi

2

Project Name

5

***) as of 15 May 2015

1

No/ Project

4

Surabaya

Mojokerto

8

Total

Govt

Private

Total

Govt

Private

15.20%

48%

6.15%.

-

-

-

Section I (100%), Section II ((48.26%) (Brantas Bridge 99.10%)), Section III (16.17%), Section IV

9

Section IA (97.57% (IA-I : 100%)), Section IB (36.52%), Section II – III (0%), Section IV (67.76%),

JABODETABEK TOLL ROAD DEVELOPMENT Pluit

Rawa Buaya

Akses Tanjung Priok

1 Tomang

2

6 Toll Road Projects in DKI Jakarta

Kemayoran Sunter 4

2

3

7

5 Ulujami

Pulo Gebang

Kp.Melayu

6 TMII

9

2

Semanan Sunter

3

Sunter – Pulo Gebang

Ps.Minggu

: : : : Investment Cost Total : Land Cost Total : Length Total :

4

Operation Land Acquisition and Construction CA Preparation Procurement Preparation IDR 33.19 T IDR 8.26 T 171 Km

4 5 6

10

2

1

6

5

8

*) as of 15 May 2015 **) Land Acquisition Support IDR 350 Billion ***) as of 15 May 2015 No

3

Length (Km)

1

1

3 Remarks :

Project

No

4

5

6

7

20.23

11,060

9.44

4,918

12.65

8,167

Kemayoran – Kampung Melayu

9.60

4,934

Ulujami – Tanah Abang

8.70

6,114

Duri Pulo – Kampung Melayu

Pasar Minggu – Casablanca 9

8

Investmen t Cost (IDR Billion)

TOTAL

9.16 10

69.77

5,981 1-6

41,174

Project Name

JORR W2 Utara

Cengkareng – Batu – Ceper – Kunciran

Kunciran – Serpong

Serpong – Cinere

Cinere – Jagorawi

Cimanggis – Cibitung

Cibitung – Cilincing

Depok – Antasari

Bekasi – Cawang – Kp. Melayu **)

Bogor Ring Road

6 Toll DKI Jakarta

Toll Road Company

PT. Marga Lingkar Jakarta

PT. Marga Kunciran Cengkareng

PT. Marga Trans Nusantara

PT. Cinere Serpong Jaya

PT. Translingkar Kita Jaya

PT. Cimanggis Cibitung Tollways

PT. MTD CTP Expressway

PT. Citra Waspphutowa

PT. Kresna Kusuma Dyandra Marga

PT. Marga Sarana Jabar

PT Jakarta Tollroad Developmen t

Length (km)/Section

7.67/2

14.19/4

11.19/2

10.14/2

14.64/3

25.39/4

34.02/4

21.54/5

21.04/2

11.00/3

69.77/6

Investment Cost (IDR. Trillion)

2.229

3.507

2.623

2.219

2.621

4.524

4.22

3.0

7.2

0.983

41.174

0.610/57.63

1.219/122.65

0.989/99.97

0.712/76

0.930/134.21

1.314/333.98

0.288/193.47

0.769/178

0.449**/95.30

0.983/50.64

5.28/59.41

Operation (Overall)

2014

2019

2019

2019

2018

2019

2019

2019

2019

2019

2021


40

35

35

35

35

35

40

40

45

45

45

91.83%

18.86%

27.65%

-

63.71%

0.30%

10.56%

26.42%

16.95%

61.76%

-

-

-

-

-

-

Package I (0.87%) Package II (0%) Package III (0%)

Section I (5.49%)

Section I (100%), Section II (48.75%), Section IIA (100.00%), Section III (0%), Total (38.67%)

-

Land Cost (IDR Trillion)/Ha

Land Acq *)

Progres s

Construction ***)

In operation since 2014


Section I (100%), Section II (27.05%), Section III (0 %), Total (35.44%)

NON TRANS JAVA TOLL ROAD DEVELOPMENT 7/8 Serang

DKI Jakarta Cikampek

Banten

Palimanan

Bogor Ciranjang

1

Bandung

Kanci

Sukabumi

Investment Cost Land Acquisition Length Description

Batang

Semarang Demak

(K)

Remarks : : : : : : :

6

Pejagan Pemalang

Surabaya

Ngawi

Jawa Tengah

Jawa Barat Operation Land Acq. and Construction Procurement Preparation IDR 32.932 Trillion IDR 3.791 T 222.7 Km 2 1

5

Mojokerto

Solo

Kertosono

Pandaan

Yogyakarta

DIY

3

4

Gempol

3 Pasuruan 2 4

Probolinggo

Malang

Jawa Timur *) As of 21 April 2015 ***) As of 15 May 2015

5

6

7

8

Banyuwangi

Ciawi - Sukabumi

Gempol – Pandaan

Gempol – Pasuruan

Pasuruan – Probolinggo

Waru (Aloha) – Wonokromo – Tj. Perak

Bali Mandara (Nusa DuaNgurah RaiBenoa)

MedanKualanamuTebing Tinggi

Medan-Binai

Toll Road Company

PT. Trans Jabar Tol

PT. Jasamarga Pandaan Tol

PT. Trans Marga Jatim Pasuruan

PT. Transjawa Paspro Jalan Tol

PT. Margaraya Jawa Tol

PT Jasamarga Bali Tol

PT. Jasamarga Kualanamu Tol

PT Hutama Karya

Length (km)/Section

54/4

13.61/1

34.15/3

31.30/3

18.20/4

10,07/1

61.70

16.72

Investment Cost (IDR Trilion)

7.775

1.472

2.769

3.551

11.111

2.485

4.072

1.604

0.824/567.53

0.191/102.84

0.256/318.42

0.216/360

1.425/72.8

0.456/10.48

0.441/445.43

-

Operation (overall)

2019

2015

2018

2019

> 2019

2013

2017

2018


45

37

45

45

50

45

40

40

53.07%

-

-

100%

85.98%

69.70%

Project Name

Land Cost (IDR Trillion)/Ha

Land Acq 24.04% 100% Indonesia Toll Road Authority *)

INVESTMENT SCHEME AND TOLL ROAD VIABILITY SBOT/HYBRID

BOT TRC

GOI

TRC

GOI

O&M/LEASE TRC

GOI

ASSIGNMENT*

SOE

Land Acquisition

Construction

O&M

EIRR >>> FIRR >>>

TRC : Toll Road Company GOI: Government of Indonesia SOE: State Owned Enterprise

EIRR >>> FIRR Marginal

EIRR >>> FIRR <<<

EIRR >>> FIRR <<<

*) PP 43 /2013 : assignment of SOEs due to limited budget of GOI in providing infrastructure.


STAGES OF TOLL ROAD PROCUREMENT Directorate General of Highways SOLICITED PROJECT

Indonesian Toll Road Authority

UNSOLICITED PROJECT

TOLL ROAD PLANNING POLICY

1

TOLL ROAD MASTER PLAN

2

TOLL ROAD SECTION PLAN

3

PROJECT PROPOSAL

1a

PROPOSAL APPROVAL

1b

Toll Road Company

CONCESSION AGREEMENT

TENDER PREPARATION

LAND ACQUISITION

4

5

TENDER

6


TOLL TARIFF

FINANCING

7

TECHNICAL DESIGN

8

CONSTRUCTION

OPERATION & MAINTENANCE

CONCESSION TAKE OVER

9

10

11

TRANSACTION PROCESS

PRIVATE SECTOR

GOVERNMENT PROJECT PREPARATION

PREPARE PQ DOCUMENT

PQ AND BID INVITATION

SUBMIT PQ DOCUMENT

PREQUALIFICATION OF BIDDER

PREPARE BID PROPOSAL

PRE BID CONFERENCE-BID PREPARATION (± 14 months)

SUBMIT BID PROPOSAL & BID BOND

SUBMISSION AND OPENING BID

RECEIVE NOTICE AWARD

EVALUATION OF BID

PREPARE SPECIAL PURPOSE VEHICLE

APOINTMENT OF SUCCESFUL BIDDER

SIGN CONTRACT

PERFORMANCE BOND, LAND ACQUISITION COST, FINANCIAL CLOSE

CONCESSION AGREEMENT

IMPLEMENTATION OF THE AGREEMENT


(± 4-6 months)

PROCUREMENT PROCESS

1 • • • •

•

Pre-Qualification (PQ) Process

PQ process will be announced in local mass media. PQ criteria will be set out in the pre-qualification document. Participants who meet the requirement and eligible criteria will be announced as shortlisted bidders and will be invited to tender. Should there be less than three participants, there will be re-PQ. Should the above condition is recurred, the tender process will be continued by negotiation.

Evaluation Criteria For PQ 1. Compliance with submission requirements in the prequalification document and eligibility to participate in Indonesian PPP Procurement; 2. Financial capacity to raise the required finance for the Project; 3. Track record in financing, designing, constructing and operating projects similar to this Project, particularly in Indonesia and / or South East Asia and experience in fulfilling PPP projects.


Tender Process • •

2

Participants who meet the requirement and eligible will be announced as shortlisted bidders and will be invited to tender. Should there is one tender participant, the tender process will be conducted by negotiation.

Evaluation Criteria For Tender Tender process are evaluated using two methods : 1. Lowest tariff; 2. Lowest government support;

RISK ALLOCATION Allocation No

Type of Risk Government

1.

Land Acquisition

2.

Engineering Plan

3.

Toll Road Construction

4.

Operation and Maintenance

5.

Toll Tariff

6.

Traffic Volume

7.

Law Amandment

8.

Force Majeur


Toll Road Company

CONSTRAINT AND EXPECTED CONDITION OF TOLL ROAD BUSINESS IN INDONESIA

PAST

PRESENT  Land acquisition implementation in accordance with the Law of 2/2012 and Presidential Regulation of 30/2015  Financing and its implementation are conducted by Government

Land Acquisition

 No certainty on the completion of land acquisition financed by business entity

Financing Facility

 Limited financing from lender (only from bank)

 Availability of other financing institutions apart from banking. (PT SMI/IIF)

Bidding

 Most of toll road segments are based on the national road network determined by the Minister of Public Works and Housing  Bidding includes land acquisition cost

 Private’s initiative  Investment cost excludes land acquisition cost  Bidding is carried out upon completion of land acquisition (minimum 1 section)

Contingent Liability

 Absence of Government guarantee to reduce the risks

 Use of Government guarantee management through PT PII / IIGF


in

risk

PPP STRUCTURE GENERAL

Government/ITRA

VGF IIGF

Directorate General of Highways

Tripartite Agreements

Guarantee Agreement

Ministry of Finance

Concession Agreement Loan Agreements

Land Acquisition

Lenders

Toll Road Company Equity Mezzanine D&C Contract

Investors

O&M Contract

Lenders Construction Contractor


Operator

PPP STRUCTURE : RECENT DEVELOPMENT

SBOT with Government Guarantee (Optional) National Budget/ Borrowing

Rp

Land Acquisition

Rp

Government

Rp

• Land acquisition cost

paid by Government • Part of toll road section constructed by Government • TRC builds other sections and operate the Toll Road in total

MoPW & H

Rp

Ministry of Finance Guarantee

Toll Road Assets

Rp Recourse Agreement

IIGF

BPJT Concession Agreement

EQUITY

Equity Sponsor

SERVICE

Rp DIVIDEND LOAN

Lender

Toll Road Company

Road Users Rp

Rp

TOLL TARIFF

REPAYMENT CONSTRUCTION COST Rp

Construction, Operation & Maintenance

Construction


Rp

Operation & Maintenance Cost

Operation & Maintenance

TOLL ROAD INVESTMENT OPPORTUNITIES 2015

4 3

1 2 No.

1

2

3

Project Name

Cileunyi – Sumedang Dawuan

Pandaan – Malang

Balikpapan – Samarinda

Manado – Bitung

Length (km)

60.27

37.62

99.02

39.00

Investment Cost (IDR Bio)

10,033

2,968

11,400

4,163

Land Acquisition Cost (IDR Bio)

1,295

294

1,266

365

Land Acquisition (28.18%)

Land Acquisition (21.99%)

Land Acquisition (83 %)

Land Acquisition (30.69 %)

Project Status


4

1st IRF Asia Regional Congress & Exhibition Bali, November 17 - 19, 2014 Better Roads. Better World.

CONCLUDING REMARKS

• Government is facilitating land acquisition before the start of new toll construction; • Government is committed to continuously improve the PPP scheme; • PPP scheme with Government support is more viable, with Government support on land acquisition and part of the toll construction.


THANK YOU Indonesia Toll Road Authority – Ministry of Public Works and Housing Jl. Pattimura No. 20, Kebayoran Baru - Jakarta Selatan 12110 Indonesia E-mail: [email protected]

TOLL ROAD RECENT DEVELOPMENT IN INDONESIA

Recommend Documents