JAKARTA, NNC – PT Pembangunan Perumahan (Persero) Tbk (IDX:PTPP), one of the leading construction and investment companies in Indonesia, is optimistic that it can complete the construction work of the Pandaan-Malang toll road which has a length of 38.48 kilometers (km) on time. Until the end of August 2018, the progress of the toll road located in East Java has reached 66 percent.
At present, there remains 10 percent of land that has not yet been freed for the toll road construction project. As a contractor and project owner, the company through PT Jasamarga Pandaan Malang continues to spur the progress of physical development and continues to make every effort to complete the land acquisition needed.
"We are optimistic that we can complete the construction work of the Pandaan-Malang toll road project until the end of 2018 so that the toll road can be operated optimally at the beginning of 2019", said Lukman Hidayat, President Director of PTPP, Monday (9/10/2018).
For information, Pandaan-Malang toll road is one of the national strategic projects launched by the Government wherein the company is trusted to be the main contractor to carry out the construction of the 38 km toll road project.
The toll road is also part of the Trans Java toll road project whose work is divided into five regional sections, including Section 1 Pandaan-Purwodadi along 15.475 km, Section 2 Purwodadi-Lawang along 8.050 km, Section 3 Lawang-Songosaro along 7.100 km, Section 4 Singosari-Pakis throughout 4.750 km and Section 5 Pakis-Malang along 3.113 km. This toll road will be connected to the Gempol-Pandaan to Gempol-Surabaya toll roads.
"The existence of this toll road is able to cut the travel time of Pandaan-Pasuruan-Malang to less than an hour," Lukman said.
In addition, the existence of the toll road can reduce the density of arterial roads or national roads connecting the Pandaan-Malang road segment so as to facilitate industrial transportation because the route is access to the tourist cities, Malang City and Batu City.
"The beautiful scenery along the road is one of the advantages of the Pandaan-Malang toll road," Lukman said in an official statement released by the company earlier this week.
Pandaan-Malang toll road is an investment project owned by PT Jasamarga Pandaan Malang where the ownership consists of three SOEs, namely PT Jasamarga (Persero) Tbk (IDX:JSMR) with 60 percent, PT PP (Persero) Tbk 35 percent and PT SMI (Persero) five percent.
In terms of costs, the toll road project costs an investment up to IDR5.97 trillion, where the fund is 30 percent sourced from the company's capital and the remaining 70 percent comes from bank loans.