SMI, Surabaya sign Rp885.85 billion financing deal for road projects
Tuesday, April 28 2026 - 10:38 PM WIB
By Romel S. Gurky
State infrastructure financing firm PT Sarana Multi Infrastruktur (Persero) (SMI) has signed a financing agreement worth Rp885.85 billion (approximately $51.2 million) with the Surabaya city government to support road infrastructure development.
The agreement, signed on April 24 in Surabaya, will fund the construction of the West Outer Ring Road (JLLB) and the widening of the Wiyung–Menganti road, according to a company social media post.
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The projects are aimed at improving connectivity and easing traffic congestion in Surabaya, one of Indonesia’s largest urban centers.
SMI said the financing is expected to generate broader economic benefits, with potential economic impact estimated at Rp29.79 trillion (around $1.72 billion), reflecting improved mobility and regional productivity.
Editing by Alexander Ginting