PT Astra International Tbk (IDX: ASII), through its subsidiary Astra Infra, completed the acquisition 100 percent shares of PT Jakarta Marga Jaya - Photo by the Company

JAKARTA (TheInsiderStories) – PT Astra International Tbk (IDX: ASII), through its subsidiary Astra Infra, completed the acquisition 100 percent shares of PT Jakarta Marga Jaya, said the company on Thursday (11/26). The developer bought the shares from PT Jakarta Infrastruktur Propertindo  and 49 percent shares of PT Jaya Sarana Pratama.

With the signing of this share sale, the constructor indirectly owned 35 percent of the shares of PT Marga Lingkar Jakarta, which is a toll road business entity for the Jakarta Ring Road Toll Road (JORR) I W2 North. The other 65 percent is owned by state-firm, PT Jasa Marga Tbk (IDX: JSMR).

According to Astra Infra‘ Group CEO, Djap Tet Fa, the Astra Group’ decision to invest in JORR I was one of the company’ strategic steps in diversifying its toll road business portfolio, especially in the capital city areas. The toll road has a length of 7.67 kilometers (km) and has been operating since 2014.

The JORR I toll road is connected with the Jakarta – Cikampek toll road, the Jakarta – Bogor toll road, the Jakarta – Serpong toll road, the Jakarta – Tangerang toll road, the Sedyatmo toll road and is an important transportation vessel that facilitates the flow of logistics distribution and the mobility of the people of Jakarta and its surroundings.

He said, with the existence of the JORR I toll road, it is hoped that connectivity will be easy and smooth and will encourage the wheels of the national and regional economy. Astra Infra has managed around 357.6 km of Java Toll Road like the Tangerang – Merak (72.5 km), Cikopo – Palimanan (116.8 km), Semarang – Solo (72 , 6 km), Jombang – Mojokerto (40.5 km), Surabaya – Mojokerto (36.3 km), Kunciran – Serpong (11.2 km) and JORR I W2 (7.67 km).

Through PT ASTRA Tol Nusantara, the company directly and indirectly in seven toll road entities. In addition, PT ASTRA Nusa Perdana is currently managing PT Pelabuhan Penajam Banua Taka (ASTRA Infra Port Eastkal) which was acquired by Astra Infra in 2013.

Jakarta Infrastruktur Propertindo owned by regional firm, PT Jakarta Propertindo while Jaya Sarana Pratama is part of PT Jaya Real Property Tbk (IDX: JRPT). Both companies are managed by the Jakarta provincial government.

US$1: Rp14,100

Written by Editorial Staff, Email: theinsiderstories@gmail.com