Angkasa Pura II (AP II) has taken up a loan from Bank Internasional Indonesia, which will be used to expand airports under its management, such as Jakarta's Soekarno-Hatta International airport.
The loan is valued at Rp1.5 trillion ($128.5 million) and will carry a 10-year term, says AP II in a statement.
Expansion of Soekarno-Hatta will see the completion of Terminal 3’s ‘ultimate phase’ in 2015, while improvement works at Terminals 1 and 2 will follow later on. An integrated building which will house a train station, hotel, shopping mall and commercial areas will also be part of the expansion project.
Once the project is completed, the airport will have a handling capacity of 61 million passengers annually, almost triple the current capacity of 22 million. In 2013, it handled 49.4 million passengers, according to the airport operator’s annual report.
Besides the loan from BII, the firm is also looking at other funding options needed to support Soekarno-Hatta’s expansion. Its president director Tri Sunoko adds the estimated amount required to expand the airport is valued at Rp26 trillion, spread over 13 years to 2020.
Angkasa Pura II operates 13 airports in western Indonesia, such as Jakarta's Halim and Soekarno-Hatta airports, Padang's Minangkabau and Medan's Kuala Namu International airport.