METRO Pacific Tollways Corp. (MPTC), through units PT Margautama Nusantara and PT Metro Pacific Tollways Indonesia Services, and partner GIC have inked a deal to acquire a 35-percent stake worth $1 billion in Indonesian firm Jasamarga Transjawa Tol (JTT).
JTT is a subsidiary of the leading Indonesian state-owned toll road operator, PT Jasa Marga (Persero) Tbk (Jasa Marga).
“This deal fortifies MPTC’s goal to expand in Southeast Asia and enhance our infrastructure portfolio,” MPTC President and Chief Executive Rogelio Singson said, adding that “this expansion in Indonesia aligns well with our commitment to improve our regional presence in toll road operations.”
JTT has a network of 13 toll roads in the provinces of West Java, Central Java and East Java.
The combined 676-kilometer-long road is considered Indonesia’s crown jewel that allows the efficient flow of 850,000 vehicles daily across Indonesia’s economic powerhouse of Java Island.
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