Jasa Marga (Persero) Tbk.

Brief of Company Background

To support the economic growth, Indonesia needs reliable road network. Based on Government Regulation No. 04 of 1978, the Government established PT Jasa Marga (Persero) Tbk. on 01 March 1978 with the main task to plan, build, operate and maintain toll roads along with the facilities so that toll roads are able to function as highway providing more benefits compared to the non-toll roads.At an earlier stage of its establishment, besides functioning as operator, the Company also had the responsibility of toll road authority in the country. Until 1987, Jasa Marga was the only toll road operator in Indonesia and its development is financed by the Government with fund deriving from foreign loan and the issuance of Jasa Marga bonds. As the countrys first toll road operated by the Company, Jagorawi (Jakarta-Bogor-Ciawi) Toll Road that is operated since 1978 serves as the milestone in the development of toll road industry in Indonesia.At the end of the 80s, the Government of Indonesia began to include private sectors to participate in toll road development through the Build, Operate and Transfer (BOT) mechanism. In the 90s, the Companys role is more on the authority, facilitating private investors most of whom failed to realize their project. The toll roads that were taken over by the Company include JORR and Cipularang.The issuance of Law No. 38 of 2004 on Road replacing Law No. 13 of 1980, along with the issuance of Government Regulation No. 15 giving more specific regulations on toll roads have brought changes in toll road business mechanism, which among others include the forming of the Indonesian Toll Road Authority (Badan Pengatur Jalan Tol  BPJT) as the regulator of toll road industry in Indonesia, as well as the decision of toll tariff by the Minister of Public W

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