Jakarta – The investment by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and Dutch pension investor APG Asset Management N.V (APG), alongside the Indonesia Investment Authority (INA), in Indonesia’s Trans Java Toll Road sections of Kanci-Pejagan and Pejagan-Pemalang, has received two international awards. The investment was named “Transport Acquisition of the Year, APAC” in the IJInvestor Awards 2024 and acknowledged as “One of the Best Infrastructure Deals in Southeast Asia” in the FinanceAsia Achievement Awards 2024.

These awards emphasize the importance of this investment in improving Indonesia’s infrastructure connectivity and supporting cross-border collaborations in the region. The IJInvestor Awards focus on recognizing achievements in fundraising, capital deployment, and Mergers and Acquisitions  (M&A) activity within the energy and infrastructure sectors. Judged by an international panel of industry experts, the awards provide a global perspective on company performance over the past year. The FinanceAsia Achievement Awards, meanwhile, acknowledge contributions to Asia’s financial markets and recognize key players across the Asia-Pacific and Middle East regions.

This investment, first announced in January 2024, was executed under the toll road investment platform established by INA, APG, and ADIA following a memorandum of understanding signed in May 2021. Serving as the platform’s initial seed assets, the Kanci-Pejagan and Pejagan-Pemalang toll road sections are part of a broader effort targeting USD 2.75 billion in infrastructure investments across Indonesia. These sections play a vital role in reducing travel times, connecting industrial hubs, and creating a multiplier effect for economic development.

The toll road platform recently expanded its portfolio with the addition of the Medan-Binjai and Bakauheni-Terbanggi Besar sections of the Trans Sumatra Toll Road. Announced in October 2024, this investment serves as a continuation of the platform's strategy, building on the earlier acquisitions of the Kanci-Pejagan and Pejagan-Pemalang sections of the Trans Java Toll Road. These additions aim to strengthen regional connectivity and support economic growth across key areas of Sumatra.

A member of the IJInvestor Awards independent judging panel remarked, “This is an important investment in Indonesia’s long-term infrastructure improvement programme.” Another judge added, “Successful transaction with the potential of significant impact in the region.”

Building on INA’s recognition at the IJInvestor Awards 2023 for its investment in the Trans Sumatra Toll Road, which included the acquisition of the 17 km Medan-Binjai and 141 km Bakauheni-Terbanggi Besar sections from Hutama Karya, these latest accolades underscores INA’s continued mission to advancing Indonesia’s infrastructure development. The 2023 transaction was noted by the judging panel for its good innovation in a challenging locale and its complexity, demonstrating that innovative structures can be successfully executed to attract investors.

Ridha Wirakusumah, CEO of INA, stated, “These recognitions reflect the importance of collaborative efforts in addressing Indonesia’s infrastructure needs. The Trans Java Toll Road investment exemplifies how partnerships with global investors, like APG and ADIA, can deliver impactful solutions, such as improving regional connectivity, supporting economic growth, facilitating industrial development, and enhancing the everyday lives of millions. INA remains steadfast in its mission to catalyze investments that align with national priorities and deliver long-term value for Indonesia.”

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About Indonesia Investment Authority (INA)

Indonesia Investment Authority is Indonesia’s sovereign wealth fund mandated to increase investment to support the country’s sustainable development and build wealth for its future generations. INA conducts investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia’s advantages and provide risk-adjusted optimal returns.

For more information, visit: www.ina.go.id.

Media Contact
Indonesia Investment Authority (INA)
Putri Dianita Ruswaldi
VP of Communications
putri.dianita@ina.go.id