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The Indonesia Investment Authority (INA) toll road platform, which is backed by a subsidiary of the Abu Dhabi Investment Authority (ADIA) and Dutch pension investor APG, have announced an investment in sections of the Trans Sumatra Toll Road (JTTS), with a combined value of $1.4 billion.
Sections under development include the Medan-Binjai Toll Road, which crosses Medan, the capital of North Sumatra and the fourth largest city in Indonesia, and is a major development hub along with Jakarta, Surabaya, and Makassar.
Meanwhile, the Bakauheni-Terbanggi Besar Toll Road in Lampung acts as an important link between the islands of Java and Sumatra, with the Port of Bakauheni, Lampung.
The latest partnership with ADIA and APG is a continuation of the investment platform strategy, which includes the Kanci-Pejagan and Pejagan-Pemalang sections on the Trans Java Toll Road, with an investment target of up to $2.75 billion in various toll road networks throughout Indonesia, according to the country’s state news agency.
ADIA and APG first announced investments in toll roads in the Southeast Asian country in January through an investment platform that was formed in 2021 between APG, ADIA and the Indonesia Investment Authority (INA).
(Writing by Bindu Rai, editing by Brinda Darasha)
