With

PDAMTirtaTarum

18Februari2015

PerumJasaTirtaII

KLARI

WATERSUPPLYPROJECT

EXECUTIVE SUMMARY

WTPKARAWANG50L/SECAT

WATERSUPPLYPROJECT

WTPKARAWANG50L/SECAT

KLARI

EXECUTIVESUMMARY

A General

ProjectName:WTPKarawang50L/SecProjectOwner:PerumJasaTirtaIIProjectLocation:Klari

FlowRate(L/Sec)OfftakeDesaDuren 50Offtake0 0Offtake0 0Offtake0 0

ScopeofWork

PlantCapacity 50 L/sec4.320 m3/day

RawWaterSourceandQualityWaterSource: CiratumParameter Min Ave MaxTurbidity 12 60 150SuspendedSolid 30 80 200Color 5 15 20pH 7 7 7Alkalinity 23 23 23TOC 5 5 5Temperature 25 27 28Iron 0 0 0Mangan 0 0 0

UnitProcess

OftakerName User

,WTPmadefromSteel

EXECUTIVESUMMARY

B KeyProjectdate

Item Start End Term(yrs)Construction Jun2015 Jul2016 1,1Operation Sep2016 Sep2046 30,0Debt Sep2016 Sep2024 8,0

C OperatingData

WaterTariff 4.776 IDR/m3NumberOfEmployeeElecticityCost 1200 kWhMinimumOfftake

ProductionPlanProjection % Q(l/Sec) AnnualVol(m3)Sep2016 50% 25 777.600Sep2017 70% 35 1.088.640Sep2018 90% 45 1.399.680Sep2019 100% 50 1.555.200Sep2020 100% 50 1.555.200Sep2021 100% 50 1.555.200

11

90%

25

35

45

50 50 50

0

10

20

30

40

50

60

Jan2016 Jan2017 Jan2018 Jan2019 Jan2020 Jan2021

Q=

l/sEC

YearOperation

ProductionPlanProjection

1000000

D FundingTerm Rate MacroeconomicAssumptionsConstructionFacility(IDC) 12% PerAnnumLoanInterest 12% Inflation 6%Debt 70% TaxRate 25%WorkingCapital 30% PPNRate 10%

ExchangeRate 1USD= 12600BD12

E Sources&UsesofFundsSources Rp'000.000, Uses Rp'000.000,Equity 18.685 30% DevelopmetCost 1.177 4%Debt 8.008 70% LandAquisition 0%

EPCCost 21.402 73%Purchases 363 1%

TotalInvesment 26.693 100% Continencies 1.147 4%IDC 2.568 9%FinancialFee 535 1,8%VAT 2.258 7,7%

TotalInvesment 29.450 100,00%

F SPACEREQUIREMENT

RawWaterIntake 125 m2 Intake 125ChemicalPlant 32 m2 WTP 149ChlorineBuilding 33 m2 Reservoir 260Floculation 9 m2 OfficeandOthers 526Clarifier 50 m2 Openspace 490RapidSandFilter 90 m2 SludgeTreatmen 188Reservoir 260 m2 1.738PumpHouse 90 m2Office 210 m2PowerHouse 80 m2SludgeTreatment 188 m2Warehouse&Workshop 72 m2SecurityPost 9 m2 0,18OpenSpace 490 m2

Total 1.738 m2

TotalLandtoCapacity 35 m2/L/secWTPFootprintRatiotoCapacity 3 m2/l/sec

Intake7%

WTP9%

Reservoir15%

OfficeandOthersbuilding30%

Openspace28%

SludgeTreatment

11%

SPACEREQUIREMENT

Capital Cost Estimate

IDRAllCurencyIn IDR

G PRECONSTRUCTIONCOST AllCaluein 1000000 IDR1 PREFS&FS 428 39%2 AMDAL 642 58%3 LandAquisition 0%4 SurveyandSiteInvestigation 32 3%

1.102 100,0%

H EPCCOST AllCaluein 1000000 IDR

1 PreparationWork 552 2,6%2 EartWork 651 3,0%3 RawWaterIntake 1.977 9,2%4 RawWaterPipe 589 2,8%5 WaterTreatmentPlant,Q:50Liter/Sec 3.668 17,1%6 ChemicalBuildingBuilding,32M2 710 3,3%7 ChlorineGasBuilding,32M2 0,0%8 PowerHouse,70M2 3.415 16,0%9 Automation,InstrumentAndScada 2.655 12,4%10 SecurityPostLightningProtectionStreetLight,FencingAndLandScape 541 2,5%11 OfficeBuilding,208M2 1.218 5,7%12 ReservoirStorageCapacity:500M3 3.559 16,6%13 DistributionAndTransmissionPumps 504 2,4%14 DistributionAndTransmissionPipe 737 3,4%15 SludgeTreatment 0,0%16 TestingDanCommissioning 623 2,9%

EPCProjectCost 21.402 100,0%

I FINANCIALCOST AllCaluein 1000000 IDR1 InterestDuringConstruction 2.568 10%2 FinancialFee 535 2%3 VAT 2.258 8%4 Insurance 107 0%

EPCProjectCost 26.870 100,0%

5.00010.00015.00020.00025.000

April

201

4

Mei

201

4

Juni

201

4

Juli

201

4

Agustus20

14

Septem

ber20

14

Oktob

er201

4

Nop

embe

r20

14

Desembe

r20

14

Janu

ari20

15

Februari

201

5

Maret

201

5

April

201

5

Mei

201

5

Juni

201

5

Juli

201

5

Agustus20

15

Septem

ber20

15

CumulatifConstructionCost

Project Financial Summary

J EBITDA(EarningsBeforeInterest,Taxes,Depreciation,andAmortization)AllFigureIn1000000IDR

Year CAPITALCOST REVENUE OPEX EBITDA0 2015 29.4501 2016 3.342 2.200 1.1432 2017 5.007 2.771 2.2363 2018 6.888 3.311 3.5774 2019 8.189 3.707 4.4825 2020 8.763 7.530 1.2336 2021 9.376 4.166 5.2107 2022 10.032 4.415 5.6178 2023 10.734 4.680 6.0549 2024 11.486 4.680 6.80510 2025 12.290 4.961 7.32920 2026 24.176 18.868 5.30825 2027 33.908 25.104 8.80530 2028 47.558 34.306 13.252

K FINANCIAL&ECONOMICANALYSISProjectIRR 15,95%EquityIRR 18,44%NPV 19.296Payback 10,09

L SENSITIVITYANALISYS

6,00%

8,00%

10,00%

12,00%

14,00%

16,00%

18,00%

20,00%

22,00%

24,00%

70% 90% 110% 130%

WaterTariffEPCExpensesElectricityCostChemicalsCostRequire

18,7

15,3

16,6

15,8

16,1

EPCExpenses

ElectricityCost

ChemicalsCost

WaterTariff

11,4

19,9

26.693 199,00 1200 4.776,00

ProjectIRR=16%

14,0

70%

130%130% 130% 130%

70%70%70%

Project Operating and Expenses Summary

M OPERATINGEXPENSESSUMMARY

2.CapitalReplacementOccurrence,andCostsMaintananceAndReplacement %of Frequencyof CostofCapitalItem Replacement Replacement Replacement

1 SCADAUpGrade 50% 5Year 209,05 IDR/m32 MediaReplacement 50% 5Year 15,89 IDR/m33 Pumps 50% 10Year 59,30 IDR/m34 MCC 50% 5Year 45,59 IDR/m35 ChemicalsFeedPumps 100% 6Year 24,68 IDR/m36 Valve 50% 15Year 15,95 IDR/m37 Instrumentation 100% 5Year 132,42 IDR/m3

503 IDR/m3

3.ElectricalConsumptionNo EquipmentName TotalPowerReq. Consumed Cost/m3

(Duty) (kWh/Month) IDR

1 IntakePump 86 kW 52.050 438,132 DistributionPumps 28 kW 20.160 186,673 Backwash 18,22 kW 877 8,124 UtilitiesPlant 14 kW 10.080 93,335 SludgeDewatering 0 kW

83.167 726

PowerrequiredforTotalPlant 231 kW 271 kVa1162 Amp

4.ChemicalsConsumptionNo ChemicalsName ChemicalsName IDRPrice/Kg Dose(mg/l) Consumed

(Kg/Month) IDR/m3

1 Coagulant PolyaluminumChloride 4.110 17,6 4.800 150,12 Alkalinity SodaAsh 4.000 3,65 480 14,83 Disinfectan CalciumHypochlorite 12.700 3,01 1.200 117,64 Filtration5 FlocculantWTP 6 FlocculantSludgeTreatment 4,5* 60 *)kg/tonofdrySolid

282,5

No

60%26%

1%13%0%1IntakePump86kW

2DistributionPumps28kW

3Backwash18,22kW

4UtilitiesPlant14kW

5SludgeDewatering0kW

726,25IDR/M3