Jababeka Increases Cikarang Dry Port Capacity
JAKARTA (IFT) – PT Kawasan Industri Jababeka Tbk (KIJA) targeted an increase in Cikarang Dry Port container capacity in 2011 from 100 thousand twenty equivalent units (TEUs) to 150 thousand TEUs. This increase in capacity will give impact on company revenues of US$ 22.5 million per year.
Setyono Djuandi Darmono, Jababeka’s Managing Director, said that the capacity increase is offset by the addition of land from 10 hectares to 18 hectares. “But, the revenues maybe available to us in the next year, after all access to toll booths and flyover towards Cikampek from Jababeka is opened. For this year, we will first enlarge its capacity,” said Darmono, Thursday in Jakarta.
To increase the capacity of containers, the company has budgeted US$ 10 million or around Rp 86 billion. Budianto Liman, Jababeka’s Vice President Director, explained that the dry port with total area of ​​200 hectares will requires investment at least US$ 341 million.
For the development of phase I and II to reach 18 hectares, an investment of US$ 20 million will be needed. Darmono also stated that dry port maximum capacity of 2 million TEUs will occur in 2020. With the achievement of maximum capacity, the contribution for revenues will approximately reach US$ 300 million per year. “Prior to expansion, revenues are still around Rp 87 billion,” he said.
Jababeka budgeted Rp 643 billion for capital expenditures in 2011. 50% of it came from internal cash, while the rest comes from bank loans.
According to Muljadi Suganda, Jababeka’s Corporate Secretary, as much as US$ 30 million or Rp 258 billion will be used for the completion of power projects managed by a subsidiary of PT Bekasi Power. US$ 10 million or Rp 86 billion will be used for the expansion of dry ports and the remaining Rp 299 billion for land acquisition in the surrounding area Jababeka projects. “As of May 2011, about 40% of the expenditure capital is already in use,” he said.
Budianto added that the company projected total sales and revenues in 2011 reached Rp 1 trillion. “The target was partly set because sales in 2010 which amounted to Rp 750 billion has not been accounted for,” he said.
According to the Research Department of IFT, Jababeka revenue growth came mainly from the ground segment and industrial buildings and infrastructure. In 2010, revenues from building and industrial segments reached Rp 240.7 billion, an increase from Rp 124.5 billion 2009. Infrastructure contributes for revenues of Rp 152.9 billion, an increase from Rp 145.6 billion in 2009.
Plant Development
Muljadi explained that the construction of Bekasi Power currently has reached 88.5%. This project with a capacity of 130 megawatts is expected to be completed and to begin operations in December 2011. Company will get recurring income from the electricity starting from 2012.
According to him, this project is a cooperation with PT PLN (Persero). The Company reserves the right to sell electricity at a maximum of Rp 1450 per kilowatt-hour. “So, we sell 100% nett capacity of 118.8 megawatts. But then we reserve the right to buy again as needed at the rate of 16% more expensive than when we sell to PLN,” he said.
He also explained that the company projected revenues of US$ 85 million per year of the Bekasi Power project. PT Bumi Citra Permai Tbk (BCIP), a property and managing industrial estates company, will also build 32 units of warehouses and gas power plants with a capacity of 3×8 MW with a total investment of Rp 224 billion which will be disbursed in stages.
Edward Halim, Director of Bumi Citra Permai, said the powerplant development’s goal is to support the need for electricity in the Tangerang’s Millennium industrial Estate, which was developed the Jababeka.
Source: Indonesia Finance Today Page 10