Dutch and Abu Dhabi Investors Join Kanci-Pejagan and Pejagan-Pemalang Toll Road

KONTAN.CO.ID - JAKARTA. The Dutch pension fund investor, APG Asset Management N.V (APG), along with the Abu Dhabi Investment Authority (ADIA), officially own the Kanci-Pejagan and Pejagan-Pemalang Toll Roads.

The Indonesia Investment Authority (INA) has announced that both have invested in the Trans-Java Toll Road sections on Wednesday (10/01/2024).

This is a follow-up to the Memorandum of Understanding signed in May 2021 to establish the first toll road investment platform in Indonesia.

These two sections are the initial assets for this platform, which targets investment opportunities up to US$2.75 billion or equivalent to IDR 42.77 trillion in various toll road networks in Indonesia.

For INA, this transaction is also a continuation of the previous transaction with PT Waskita Transjawa Toll Road and PT Waskita Toll Road, subsidiaries of PT Waskita Karya (Persero) Tbk, for the Kanci-Pejagan and Pejagan-Pemalang Toll Roads.

This is in line with INA's mission to contribute to sustainable economic development, as well as bringing world-class investment partners to Indonesia.

The Chairman of the INA Board of Directors, Ridha Wirakusumah, stated that this platform combines world-class expertise and a strong track record from its partners in global toll road investments into the Indonesian infrastructure landscape.

"By welcoming APG and ADIA as shareholders, we aim to enhance our capacity in supporting and advancing national strategic projects, which are expected to provide significant economic benefits and drive Indonesia towards a future full of connectivity and prosperity," he explained in a written statement.

Head of Infrastructure & Natural Resources at APG Asset Management Asia-Pacific, Hans-Martin Aerts said, through this investment, they want to help the community maximize economic value by providing connectivity between developing rural and urban areas through quality infrastructure.

"We look forward to working with our partners to support the improvement of infrastructure in Indonesia, in line with Indonesia's ongoing economic journey," he added.

Executive Director of the Infrastructure Department ADIA, Khadem Alremeithi said, as one of the countries with the fastest economic growth in the world, Indonesia is developing its infrastructure to support increased industrialization and more efficient supply chains.

"The Trans-Java Toll Road is an important part of this plan. We are pleased to support its development through this platform with INA and APG, which will continue to seek additional opportunities to invest in Indonesian toll roads," he concluded.

This article has been published on Kompas.com with the title "Officially, Kanci-Pejagan and Pejagan-Pemalang Toll Roads Owned by Dutch and Abu Dhabi Duo"