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Sunda Strait bridge not to burden state budget JAKARTA - Finance Minister Agus Martowardojo said the US$27.8 billion Sunda strait bridge project would not burden the state budget. "The project would not be a burden for the state burden now or in the future," Agus told the lawmakers in a meeting here on Tuesday.

He said the plan to build the bridge spanning the sea between Java and Sumatra is still being studied by a "Team of Seven". The study has yet to be carried out with the result to be reported to the president, he said.

The Team of Seven is made up of seven officials including the finance minister himself, the public works minister, the cabinet secretary, the minister at state secretariat, the law and human right minister, industry minister and the head of the National Development Planning Board.

They will study and determine the best option of how to implement the mega project, Agus said. "The members of the Team of Seven share the same vision. All agree to implement the project, which was already planned even in the era of President Soekarno," he said.

Earlier, deputy public works minister Hermanto Dardak said construction of the project will be financed by consortiums without participation of the government. Hermanto said the proposal has been included in draft cooperation agreement between the central government and the consortiums led by PT Bangungraha Sejahtera Mulia .

The note is yet to be signed but in principle both sides have expressed agreement, he said. He said the consortium could reduce its financing burden by offering concessions for the area development at both ends of the bridge in Banten of Java and Lampung of Sumatra.

The concession developers would at least share 50 percent of the total cost , he said. The total cost includes Rp100 trillion for the bridge and Rp150 trillion for area development. Tender for the bridge will be held in 2014 and its construction is expected to completed in next 10 years.

The consortium of PT Bangungraha Sejahtera Mulia will cooperate with the Banten-Lampung consortium and Artha Graha, which is owned by local tycoon Tommy Winata.


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Posted in Economy @ 28 August 2012 22:12 CET by Blog Bot · 'Blog' RSS feed · permalink






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