Safira Nur Hasanah
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Analisis Dampak Pemberian Jaminan Risiko Keterlambatan Pengadaan Tanah Terhadap Kelayakan Finansial Proyek Jalan Tol di Indonesia : (Studi Kasus: Proyek Jalan Tol Jakarta-Cikampek II Selatan) Safira Nur Hasanah; Iris Mahani; Rani Gayatri K. Pradoto
JOURNAL OF CIVIL ENGINEERING BUILDING AND TRANSPORTATION Vol. 7 No. 2 (2023): JCEBT SEPTEMBER
Publisher : Universitas Medan Area

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31289/jcebt.v7i1.9053

Abstract

Currently, there are risks that have hampered the growth of toll roads construction in Indonesia, one of which is land delays. Land acquisition delays can lead to increased costs and can reduce investment attractiveness. That the Government provides infrastructure guarantee, one of which is land acquisition guarantee. It is hoped that it can attract investors, but investors are required to pay guarantee fee which will add to investment costs. This study uses qualitative and quantitative methods. The results of the analysis show that if there’s no delay in land acquisition, the difference between NPV and IRR of project with guarantee and without guarantee is not too high (0,84% for NPV and 0,033% for IRR). This means that the provision of guarantee on the condition that there is no delay in land acquisition does not significantly affect financial feasibility. However, currently there are still many land delays, the option of using guarantee can be considered because there is compensation that can be used to increased NPV and IRR values in proper conditions when land delay occured and can attract investors to invest by providing certainty for lenders/investors through increasing the credibility of the Government and business entities to be able to repay loans.