POLICY DIRECTION AND PPP INVESTMENT OPPORTUNITIES ON TOLL ROAD SECTOR

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1 POLICY DIRECTION AND PPP INVESTMENT OPPORTUNITIES ON TOLL ROAD SECTOR DIRECTORATE GENERAL OF HIGHWAYS MINISTRY OF PUBLIC WORKS Delivered on KOREAN-INDONESIA PPP FAIR 10 DECEMBER 2007 A. HERMANTO DARDAK DIRECTOR GENERAL OF HIGHWAYS

2 PUBLIC WORKS INFRASTRUCTURES Physical infrastructure is the prerequisite for social and economic development. Lack of infrastructure leads to bottlenecks and hinders economic and social activities. The Ministry of Public Works is responsible for the provision of Public Works infrastructure, such as roads, irrigation, clean water, sanitation and human settlements infrastructure 1

3 Road Infrastructure as Platform for Economic & Social Life Total length of Indonesian road network is km consist of among others km national roads including 650 km of toll roads. 2

4 REGIONAL APPROACH IN INFRASTRUCTURE DEVELOPMENT The development of public works infrastructure in Indonesia adopts the regional development approach that complies with the principle of infrastructure for all and sustainable development. Developed Region Developing Region Newly Developing Region 3

5 Toll Road Development Overview 1. First Toll road operated in 1978, Jakarta-Bogor (45 km) 2. Current Toll road in operation, 649 km, mainly constructed before 1997 economic crisis 3. After 1997 economic crisis, Toll roads construction was halted. 4. Before 2004 Jasa Marga (SOE) was assigned as both operator and regulator of Toll roads 5. By 2010, 1600 km of Toll Roads are constructed First Toll Road Operated in 1978 Ministry of Public Works 4

6 No. Item Regulation 1 CURRENT MAIN REGULATORY FRAMEWORK IN TOLL ROAD PROVISION Toll Road Provision Law No.38/2004 on Road Govt. Regulation (GR) No.15/2005 on Toll Road Minister of Public Work Decree No. 295/PRT/M/2005 on Toll Road Regulatory Body (BPJT) Minister of Public Work Decree No. 392/PRT/M/2005 on Minimum Standard of Toll Road Services Toll Road Network Land Acquisition Toll Road Investment Minister of Public Work Decree No. 369/KPTS/M/2005 jo. No. 280/KPTS/M/2006 on Master Plan on National Road Network that included the toll road network Presidential Regulation No. 36/2005 jo. No. 65/2006 on Land Acquisition for implementation of Development for Public Interest Minister of Public Works Regulation No. 10/PRT/M/2006 on the Guideline for Enterprise Fund Usage for Land Acquisition for Toll Road Presidential Regulation No. 67/2005 on Partnership between Government and Enterprise on Infrastructure Provision regulating the criteria on partnership project, tariff, government support as well as process and procedure of procurement Minister of Finance Decree No. 38/PMK.01/2006 on Guidance for Implementation and Management of risk on Infrastructure Provision which regulate the Government guarantee to the associated risk related to the political, project performance, and demand risks of PPP project. Minister of Public Works Regulation No. 27/PRT/M/2006 on Guideline on Toll Road Commercialization Ministry of Public Works 5

7 TOLL ROAD PPP SCHEME PROJECT VIABILITY APPROACH PROJECT VIABILITY PPP SCHEME REFERENCE EXAMPLE 1 ECONOMIC (+) FINANCIAL (-) E G GR No. 15/2005 Art 19,20,22 Tanjung Priok Access, Suramadu Bridge 2 ECONOMIC (+) FINANCIAL (Marginal) G E E GR No. 15/2005 Art 19,20 Solo-Kertosono 3 ECONOMIC (+) FINANCIAL (+) E E GR No. 15/2005 Art 19,21 Other pure BOT projects Operation and Maintenance Funding, DED and/or Construction G E Government Enterprise 6

8 Toll Road Management Reforms 1 Establishment of Indonesian Toll Road Authority 2 Toll road investment open to both SOE and private enterprises Reforms 3 Initial tariff is set based on investment return calculation 4 Tariff adjustment is evaluated for every 2 years, based on price consumer index 5 Land acquisition is the government responsibility Toll Road Management Reform started in 2004 Reform is mandated by new Road Law No. 38/2004 Ministry of Public Works 7

9 Land Acquisition Reforms Land Freezing No land transaction is allowed after toll road corridor been decided by the government Land Price Land price is determined by independent appraisal instead of using tax value of the land Land Title Revocation Land title revocation is allowed in the case of no agreement reached on land price among the parties Land Capping Government will bear the land cost above proposed land cost agreed in concession agreement Land Fund Revolving fund is provided to ease investor risk in case of delay in land acquisition Ministry of Public Works 8

10 Government Supports 1. Non-Financially Viable Project Bid awarded to bidders with the lowest proposed government support, e.g. Solo-Kertosono O&M contract or Leasing contract (DBO or DBL) for toll road which are financed and developed by Government, e.g. Suramadu bridge and Tanjung Priok Access 2. Land Capping Government bears the cost of land beyond 110 % of land cost proposed by investor 3. Land Acquisition Revolving Fund Government prepaid land acquisition cost, investor repay government after land acquisition of a section of the road is completed Ministry of Public Works 9

11 ALTERNATIVE TOLL ROAD INVESTMENT SCHEME (Design, Build, and Leasing & Design, Build, and Operate) Design & Construction Operation & Maintenance Ministry of Finance/ Ministry of Public Works (Public Sector) Repay Soft Lender (Multi & Bilateral Funding Agencies) Asset Leasing Leasing Fee Ministry of Finance/ Ministry of Public Works (Public Sector) Payment Loan Goods & Services (Design-Build) Soft Lender (Multi & Bilateral Funding Agencies) Private Company As Road Operator (Private Sector) (b1) During Operation in DBL Users Private Company As Design-Build Contractor (Private Sector) (a) During Design & Construction in DBL and DBO Ministry of Finance/ Ministry of Public Works (Public Sector) Payment Private Company As O&M Contractor (Private Sector) O&M Services Repay Services Tolls Soft Lender (Multi & Bilateral Funding Agencies) Users (b2) During Operation in DBO Ministry of Public Works 10

12 Toll Road Development Status No Stage # of Segment Length (Km) Estimated investment Cost (Rp Trillion) Estimated investment Cost (US$ Billion) 1 Operation Under Construction Concession Agreement Signed Under Bidding Process Ready for Bidding Ministry of Public Works 11

13 Planned Toll Roads in Java Serang DKI Jakarta Cikampek Banten Palimanan Sukabumi Ciranjang Bandung Jawa Barat Kanci Pejagan Pemalang Jawa Tengah Batang Semarang Solo Demak Ngawi Mojokerto Surabaya Pasuruan Kertosono Yogyakarta DIY Jawa Timur Probolinggo Banyuwangi Operation Financial Closed/Construction Concession Agreement (Contract) Negotiation/Tender Tender Preparation Ministry of Public Works 12

14 Planned Toll Roads in Sumatra - Medan-Binjai - Belmera - MedanKualanmuTebing Tinggi Pekanbaru-Kandis-Dumai PalembangIndralaya BakauheniTerbanggi Besar (TeginenengBabatan) In Operation Tender Preparation 13

15 Planned Toll Roads in Bali Serangan-Tanjung Benoa Tender Preparation 14

16 Planned Toll Roads in Sulawesi Menado-Bitung In Operation - Ujung Pandang I&II Construction - Makassar Seksi IV Tender Preparation < 15

17 No. A TOLL ROAD OPERATED BEFORE 2005 TOLL ROAD LINK LENGTH (Km) MAIN ROAD ACCESS ROAD PT JASA MARGA INVESTOR/ COCESSIONAIRE OPENING YEAR 1 Jakarta-Bogor-Ciawi PT. Jasa M arga Jakarta - Tangerang PT. Jasa M arga Surabaya - Gempol PT. Jasa M arga Jakarta - Cikampek PT. Jasa M arga Padalarang - Cileunyi PT. Jasa M arga Prof. DR Soedyatmo PT. Jasa M arga Lingkar Dalam Kota Jakarta PT. Jasa M arga Belmera PT. Jasa M arga 1989& Semarang Seksi A, B, C PT. Jasa Marga Ulujami-Pondok Aren 5.55 PT. Jasa M arga Cirebon-Palimanan PT. Jasa M arga JORR W2 Selatan (Pondok Pinang - Veteran) PT. Jasa M arga 1991 JORR E1 Selatan (Taman M ini - Hankam Raya) PT. Jasa M arga 1998 JORR E2 (Cikunir - Cakung) PT. Jasa M arga Cikampek Padalarang I PT. Jasa M arga Total Sub Total A B 1 Tangerang - M erak PRIVATE CONCESSIONAIRE PT. M arga M anggalasakti Ir. Wiyoto Wiyono, M Sc PT. Citra M arga Nusaphala Persada Surabaya - Gresik PT. M argabumi M atraraya JORR Selatan (Pondok Pinang - Taman M ini) PT. Jalan Tol Lingkar Luar Jakarta Harbour Road PT. Citra M arga Nusaphala Persada Ujung Pandang Tahap I 6.05 Bosawa marga Nusantara Serpong - Pondok Aren 7.25 PT. Bintaro Serpong Damai 1999 Total Sub Total B Total

18 TOLL ROAD OPERATED SINCE 2005 TOLL ROAD LINGK LENGTH (KM) INVESTMENT COST * (Rp. Milyar) INVESTOR STATUS 1 CIKAMPEK - PADALARANG II , PT. Jasa Marga Operation 2 JORR E1-3, W2-S, E3, E PT. Jasa Marga Operation T O T A L , *) Including Land Acquisition Cost 17

19 TOLL ROAD UNDER CONSTRUCTION No. TOLL ROAD LINK LENGTH (KM) LAND ACQUSITION COST (Bio Rp.) INVESTMENT COST * (Bio Rp.) INVESTOR STATUS 1 WARU - JUANDA , PT. Citra Margatama Sby Construction, Opening Plan December 07 2 JEMBATAN SURAMADU , dibangun Pemerintah Construction, Finish year end of SURABAYA - MOJOKERTO , PT. Marga Nujyasumo Agung 4 JORR Seksi W , PT. Jakarta Lingkar Baratsatu 5 MAKASSAR SEKSI IV PT. Jalan Tol Seksi Empat 6 KANCI - PEJAGAN , PT. Semesta Marga Raya Construction, PPJT Signed 06 Apr 06, FC 24/01/07 Construction, PPJT Signed 02 Feb 07, FC 01/08/07 Construction, PPJT Signed 29 Mei 06, FC 25/04/07, Opening Plan May 08 Construction, PPJT Signed 29 May 06, FC 09/03/07 T O T A L , , *) Including Land Acquisition Cost 18

20 TOLL ROAD HAS SIGNED CONCESSION AGGREEMENT NO TOLL ROAD LINK LENGTH( Km) LAND ACQUISITIO N COST (Bio Rp.) INVESTMEN T COST * (Bio Rp.) INVESTOR STATUS A. FINANCING AVAILABLE 1 SEMARANG - SOLO , PT. Jasa Marga 2 GEMPOL - PASURUAN , PT. Jasa Marga 3 BOGOR RING ROAD , PT. Jasa Marga 4 CINERE - JAGORAWI , DEPOK - ANTASARI , KERTOSONO - MOJOKERTO , CIKAMPEK - PALIMANAN , PEJAGAN - PEMALANG , PEMALANG - BATANG , SEMARANG - BATANG , PT. Trans Lingkar Kita Jaya PT. Citra Waspphutowa PT. Marga Hanurata Intrinsic PT.Lintas Marga Sedaya PT. Pejagan Pemalang Tol Road PT. Pemalang Batang Tol Road PT. Marga Setiapuritama 11 JORR W2 UTARA , PT. Jasa Marga 12 AKSES TANJUNG PRIOK , TT PPJT 15 Des 06, F.C 7 Maret 07, (DED, Pemb. Lahan on going) TT PPJT 29 Mei 06, F.C 7 Maret 07, (DED selesai, Pemb. Lahan on going) TT PPJT 29 Mei 06, F.C 7 Maret 07. (DED selesai, Pemb. Lahan on going) TT PPJT 29 Mei 06, F.C 10 April 07, (DED, Pemb. Lahan on going) TT PPJT 29 Mei 06, F.C 2 Mei 07, (DED, Pemb. Lahan on going) TT PPJT 30 Juni 06, F.C 26 Juni 07, (DED, Pemb. Lahan on going) TT PPJT 21 Juli 06, F.C 18 Juli 07, (DED, Pemb. Lahan on going) TT PPJT 21 Juli 06, F.C 20 Juli 07, (DED, Pemb. Lahan on going) TT PPJT 21 Juli 06, F.C 20 Juli 07, (DED, Pemb. Lahan on going) TT PPJT 21 Juli 06, F.C 20 Juli 07, (DED, Pemb. Lahan on going) TT PPJT 7 Juli 06, Persiapan Pembebasan Lahan DED, Pembebasan Lahan (Dana dari Pemerintah) SUB TOTAL , , B FINANCING UNAVAILABLE 1 GEMPOL - PANDAAN PT. Margabumi Adhikaraya 2 CIKARANG - TANJUNG PRIOK , MTD-Nusa Cipta 3 BEKASI-CAWANG-KP.MELAYU , PASURUAN-PROBOLINGGO , WARU(ALOHA) - WONOKROMO- TG. PERAK , , CIRANJANG - PADALARANG , PT.Kresna Kusuma Dyandra Marga PT Trans-Jawa Paspro Jalan Tol PT. Margaraya Jawa Tol Bina Puri Nindyacipta Karyatama TT PPJT 19 Des 06, (Pemb. Lahan on going) TT PPJT 29 Jan 07, (DED, Pemb Lahan on going) TT PPJT 22 Feb 07, (DED selesai, Pemb Lahan on going) TT PPJT 25 Juni 07, Persiapan DED TT PPJT 19 Juli 07, Persiapan DED TT PPJT 27 Juli 07, Persiapan DED 7 CIAWI - SUKABUMI , PT. Trans Jabar Tol TT PPJT 27 Juli 07, Persiapan DED SUB TOTAL TOTAL , , , , *) Including Land Acquisition Cost 19

21 TENDER BATCH II No. TOLL ROAD LINK LENGTH (KM) 1 LAND ACQUISITION COST (Bio Rp.) INVESTMENT COST* (Bio Rp) CENGKARENG - BATU CEPER - KUNCIRAN , , KUNCIRAN - SERPONG , STATUS Penetapan Pemenang Lelang REMARK Konsorsium Cahaya Mata Serawak -Jasa Marga-Wijaya Karya- Nindya Karya-Istaka Karya Konsorsium Astratel- Leighton-Jasa Marga- Trans Utama 3 SERPONG - CINERE , PT Thiess-Waskita 4 CIMANGGIS - CIBITUNG , Konsorsium Plus-Bakrie- Global T O T A L , , *) Including Land Acquisition Cost 20

22 TENDER BATCH III No. TOLL RAOD LINK LENGTH (KM) LAND ACQUISITION COST (Bio Rp.) INVESTMENT COST* (Bio Rp.) STATUS REMARK 1 SOLO - NGAWI , NGAWI - KERTOSONO , Evaluation Process and Negotiation Tender Batch III PT Thiess Contractors Indonesia T O T A L , , *) Including Land Acquisition Cost 21

23 Toll Road Under Prequalification No Project Length (Km) Est d FIRR (%) Estimated Investment Value (Rp Trillion) Estimated Investment Value (US$ Billion) Indicated PPP Scheme 1 PASIR KOJA SOREANG BOT + Govt Support 2 CILEUNYI SUMEDANG DAWUAN BOT + Govt Support 3 SERANGAN TANJUNG BENOA BOT + Govt Support 4 TEGINENENG BABATAN BOT + Govt Support 5 SUKABUMI CIRANJANG BOT + Govt Support 6 MEDAN-KUALANAMU-TEBING TINGGI BOT + Govt Support 7 MEDAN BINJAI BOT + Govt Support 8 PEKANBARU KANDIS - DUMAI BOT + Govt Support 9 PALEMBANG INDRALAYA BOT 10 MANADO BITUNG BOT + Govt Support 11 PANDAAN MALANG BOT T O T A L Ministry of Public Works 22

24 NEXT TENDER No. TOLL ROAD LINK LENGTH (KM) INVESTMENT COST* (Bio Rp.) STATUS 1 SEMARANG - DEMAK Document Preparation 2 JOGJA - SOLO AMDAL Study 3 BANDARA JUANDA - TJ. PERAK PROBOLINGGO - BANYUWANGI Document Preparation 5 CILEGON - BOJONEGARA T O T A L , *) Including Land Acquisition Cost 23

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27 PROPOSED 6 INTRA URBAN TOLL ROAD IN DKI JAKARTA AIRPORT PLUIT AKSES TANJUNG PRIOK RAWA BUAYA KEMAYORAN SUNTER TANGERANG TOMANG To MERAK KP. MELAYU PULO GEBANG ULUJAMI CAWANG To BEKASI To BEKASI/CIKAMPEK R E M A R K : SERPONG = OPERATED = UNDER CONSTRUCTION/PLAN = PROPOSED 6 TOLL ROAD PS. MINGGU TM. MINI R E M A R K : STAGE-I = Bekasi - Kp Melayu = Kemayoran - Kp. Melayu STAGE-II = Rawa Buaya Sunter = Kp Melayu - Tomang - Duri Pulo STAGE-III = Sunter - Pulo Gebang STAGE-IV = Ulujami - Tanah Abang = Pasar Minggu - Casablanca To BOGOR

28 PROPOSED 6 INTRA URBAN TOLL ROAD IN DKI JAKARTA No. TOLL ROAD LINK LENGTH (Km) ESTIMATED CONSTRUCTION COST * (Bio Rp) ESTIMATED DIRECT COST** (Bio Rp) EIRR (%) 1. Rawa Buaya - Sunter 18, ,47 2. Sunter Pulo Gebang 14, ,75 3. Duri Pulo Kampung Melayu 11, ,90 4. Ulujami Tanah Abang 8, ,50 5. Kemayoran Kampung Melayu 9, ,63 6. Pasar Minggu - Casablanca 9, ,68 T o t a l 72, *) 3 lanes each direction, elevated **) Including Construction Cost, Land Acquisition, DED, and Engineering Services 27

29 PROPOSED 6 TOLL ROADS AND CENTRAL BUSINESESS Kapuk Pantai Mutiara Muara Baru AIRPORT PLUIT RAWA BUAYA Cengkareng Mangga Dua KEMAYORAN SUNTER Kemayoran To MERAK TANGERANG Puri Kembangan TOMANG Palmerah Monas Tanah Abang Manggarai Segi Tiga Emas Kelapa Gading Pulo Gadung KP. MELAYU Pulo Gebang PULO GEBANG ULUJAMI Blok M CAWANG Halim Perdanakusuma KE BEKASI PS. MINGGU To BEKASI/CIKAMPEK Cilandak SERPONG Lenteng Agung TM. MINI R E M A R K S : = OPERATED = UNDER CONSTRUCTION/PLAN = PROPOSED 6 TOLL ROAD = MONORAIL = CENTRAL BUSINESESS To BOGOR

30 LOCATION OF PROPOSED 6 INTRA URBAN TOLL ROAD IN DKI JAKARTA LOCATION 0F THE 6 TOLL ROAD NO TOLL ROAD LINK ON THE EXISTING ROAD ON THE RIVER AND WEST FLOOD BASIN ON THE RAILWAY TOTAL 1 Rawa Buaya - Sunter 15.5 KM KM 18.9 KM 2 Sunter - Pulo Gebang 14.7 KM KM 3 Kemayoran - Kp Melayu 7.3 KM 2.3 KM KM 4 Duri Pulo - Kp Melayu 3.6 KM 7.8 KM KM 5 Ulujami Tanah Abang 1.8 KM KM 8.3 KM 6 Ps Minggu Casablanca 9.6 KM KM TOTAL 52.5 KM (72,4%) 10.1 KM (13,9%) 9.9 KM (13,7%) 72.5 KM (100%) 29

31 LOCATION OF PROPOSED 6 INTRA URBAN TOLL ROAD IN DKI JAKARTA SEMANAN DURI PULO GAJAH MADA KEMAYORAN SUNTER 3.4 km 2.3 km TOMANG Tn ABANG 7.8 km MATRAMAN 3.8 km DUKUH ATAS KAMPUNG MELAYU PULO GEBANG CASABLANCA 2.7 km ULUJAMI KALI MALANG R E M A R K S : = ON THE ARTERIAL ROAD = ON THE SENTIONG RIVER = ON THE RAILWAY (PT KAI S LAND) = ON THE WEST FLOOD BASIN PASAR MINGGU

32 CONCLUDING REMARKS 1. Toll road investment is an attractive sector which will boost economic growth, generate fund to develop further infrastructure and increase economic development 2. Gov. policy to expand national road network capacity 3. Strong commitment to create conducive investment climate 4. Private sector participation is conducted through a clear and transparent tender process with support for non/less financially viable projects Fund, professionalism, and efficiency from private sector Ministry of Public Works 31