PT Astra Tol Nusantara, a subsidiary of PT Astra International Tbk (IDX: ASII), is preparing a capital expenditure about Rp1.5 trillion (US$106.38 million) in 2021 - Photo by the Company

JAKARTA (TheInsiderStories) – PT Astra Tol Nusantara (Astra Infra), a subsidiary of PT Astra International Tbk (IDX: ASII), is preparing a capital expenditure about Rp1.5 trillion (US$106.38 million) in 2021, said the company today. The budget is set for the development of the toll road portfolios under the constructor.

The corporate secretary of the issuer, Gita Tiffany Boer, explained, part of the funds will be use for the acquisition of PT Jakarta Marga Jaya’ assets. In November, the developer has completed the acquisition 100 percent of the toll road’ shares from PT Jakarta Infrastruktur Propertindo and PT Jaya Sarana Pratama.

Through this transaction, Astra Infra indirectly will own 35 percent of PT Marga Lingkar Jakarta shares, which is a toll road business entity for the Jakarta Outer Ring Road (JORR ) I W2 toll road. After the acquisition the company’ contribution in the toll road to around 357.6 kilometers (km).

In detail, the company has concessions for the Tangerang – Merak toll road (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 W2N (7.67 km).

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