JAKARTA (TheInsiderStories) - State-owned toll road operator PT Jasa Marga Tbk (IDX: JSMR) has enlarged its business portfolio after securing a concession of four new toll roads. The four projects are the 75 kilometer Batang-Semarang toll road section in Central Java, Pandaan-Malang (38 km ) in East Java, Balikpapan-Samarinda ( 99 km ) in Kalimantan, and Manado-Bitung (40 km) in Sulawesi.
“We have been appointed as the concession holder of the four toll roads,” Jasa Marga corporate secretary Mohammad Sofyan said as quoted by kontan.co.idin Jakarta on Saturday.
The company, Sofyan added, was calculating the total concession value of the toll roads. The total investment for the four toll roads was predicted to reach Rp 32.1 trillion, of which Jasa Marga would hold 55 percent to 65 percent share ownership.
Sofyan said Jasa Marga aimed to complete its toll road projects in Java by 2019. (*)