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SMI Targets Tourism, Health & Education

by Jonathan Cohen Monday, August 6, 2018 - 17:00

JAKARTA - PT Sarana Multi Infrastruktur (SMI) is committed to diversifying the finance distribution to tourism, health, and education infrastructure sectors in addition to basic infrastructure sector which has been financed until now.

Emma Sri Martini, President Director PT Sarana Multi Infrastruktur said that the plan is in line with the company's vision to create multiple effects and accelerate regional economic growth, especially in sectors that have yet to be entered by the company.

"So, in the future besides basic infrastructure, we will also address other sectors such as tourism, health, and education," she said, as reported by Bisnis Indonesia.

In the tourism sector, Emma pointed out that the financing will be focused to assist the regional government in preparing the supporting infrastructure which is on the development process such as Danau Toba and Labuan Bajo.

"For example, Lake Toba involves 8 regional governments. So, we will educate the regional government to prepare feeder infrastructure to support tourism," she said.

Since 2016, the total project value done by SMI is worth Rp424,30 trillion for several basic infrastructure projects.

For the Q1 of 2018, financing in the toll road sector dominated with the total project value of 45.70%, electricity power 37.10%, transportation 6.10%, oil and natural gas 4.80%, road 4.70%, infrastructure social 2.90%, telecommunications 2.40%, rolling stock 1.60%, irrigation 2.80%, drinking water 1.10%, and renewable energy 0.90%.

In the health sector, companies have begun to channel funding to hospitals through unique regional financing products.

The financing is not only devoted to the construction or rehabilitation of regional public hospitals, but also to the construction of markets, village roads, and irrigation. Its distribution is prioritized for the central and eastern parts of Indonesia. "This year the SMI is expected to be able to create a minimum of 20 offering letters of commitment for this regional loan," she said.

Until Q1 of 2018, SMI has pocketed financing commitment of Rp58 trillion or 87.80% of this year's commitment target of Rp66 trillion.

Several numbers of financing commitment projects with the SMI this year have already been signed, including the Jakarta - Cikampek II flyover project, working capital financing for the Salatiga - Kartasura toll road project, working capital for the Jabodetabek LRT rolling stock, syndicated investment financing for the construction of the Biomass Power Plant Sugar Factory Asembagoes, Situbondo district.

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