Indonesia Investment Authority’s (INA) APG and ADIA-backed toll road platform are acquiring IDR 21trn (€1.2bn) worth of additional sectors of the Trans Sumatra Toll Road in Indonesia.
INA Toll Road platform is buying the Medan-Binjai and Bakauheni-Terbanggi Besar sections. Its current assets include Kanci-Pejagan and Pejagan-Pemalang sections of the Trans Java Toll Road.
The INA Toll Road platform, established by the country’s sovereign wealth fund, Indonesia Investment Authority, is targeting up to IDR43trn toll road investments across Indonesia.
Hans-Martin Aerts, head of infrastructure and private natural capital at APG Asset Management Asia-Pacific, said: “Our investment in the Trans Sumatra Toll Road reflects our confidence in the enduring benefits that high-quality infrastructure will create in Indonesia towards equitable and sustainable growth.”
Aerts added this initiative demonstrated the foundational role that infrastructure held in Asia for helping dispersed local economies connect and advance to the next level, impacting wide-ranging communities while delivering stable growth over the long-term.
Khadem AlRemeithi, executive director of ADIA’s infrastructure department, said: “Indonesia is developing a high-quality toll road network to support its economic growth.
“The addition of these two important sections of the Trans Sumatra toll road network expands the existing platform between INA, APG and ADIA and provides exposure to some of the island’s most economically active regions.”
Ridha Wirakusumah, CEO of Indonesia Investment Authority, said: “This investment not only solidifies our toll road platform with APG and ADIA, it also expands our asset base, establishing a scalable investment platform that opens new avenues for economic opportunities.”
The involvement of investors such as APG and ADIA reflects a collective effort in managing large infrastructure projects, underscoring an integrated approach to enhancing infrastructure development in Indonesia, according to the Indonesian sovereign wealth fund.
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