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Cawang-Tanjung Priok Toll Road

Sector: Road • Location: Indonesia

Source: World Bank Group

Project
Active

PT Citra Marga Nusaphala (CMNP) was established in 1987 as the first private toll road construction and operation company in Indonesia. In 1990, the company completed construction of the 15.5km Cawang-Tanjung Priok toll road and was awarded a concession to operate the road in January 1994. The total construction cost of the Cawang-Tanjung Priok road was Rp 371 billion (approx. - US$190 million).

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The project “Cawang-Tanjung Priok Toll Road” is an infrastructure initiative in the Road sector, located in Indonesia. Taiyo aggregates data on it from World Bank Group.

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Description

Description

PT Citra Marga Nusaphala (CMNP) was established in 1987 as the first private toll road construction and operation company in Indonesia. In 1990, the company completed construction of the 15.5km Cawang-Tanjung Priok toll road and was awarded a concession to operate the road in January 1994. The total construction cost of the Cawang-Tanjung Priok road was Rp 371 billion (approx. - US$190 million). In January 1995, CMNP was listed on the Jakarta Stock Exchange and 39% of its shares are publicly held. In June 1998, the Japan Credit Rating Agency Ltd revised downward the preliminary rating on long term notes to be issued by CMNP after the company failed to pay US$6.3 million interest due on US$175 million floating rate notes.

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