Malaysia' CIIF Infrastructure Holdings Sdn. Bhd., unit of Metro Pacific Tollways Corp., (MPTC) sold 10.32 percent of its Indonesian unit, PT Margautama Nusantara, shares amounting to $35 million, said the holding on March 30 - Photo by PT Margautama Nusantara

JAKARTA (TheInsiderStories) – Malaysia’ CIIF Infrastructure Holdings Sdn. Bhd., unit of Metro Pacific Tollways Corp., (MPTC) sold 10.32 percent of its Indonesian unit, PT Margautama Nusantara, shares amounting to $35 million, said the holding on March 30. The buyer are Japanese consortium, West Nippon Expressway, Japan Expressway International Co. Ltd., and Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development.

Margautama Nusantara is a subsidiary of publicly listed firm, PT Nusantara Infrastructure Tbk (IDX: META). MTPC hold 75.89 percent of the infrastructure company shares and others hold by CIIF Infrastructure 9.68 percent.

The operator has  four toll roads in Indonesia, namely the Serpong – Pondok Aren toll road through PT Bintaro Serpong Damai, and the Kebon Jeruk to Soekarno – Hatta International Airport through PT Jakarta Lingkar Baratsatu.

Then, a section that connects Makassar’ Soekarno – Hatta port to AP Pettarani in South Sulawesi operated by PT Bosowa Marga Nusantara and in the same province, the Tallo Bridge section to Makassar Mandai Junction, which is operated by PT Tol Section Empat.

Earlier, president director of META, Ramdani Basri said, the company remained focused on three main businesses, namely toll roads, water and renewable energy throughout 2020. The company hopes to pass the Jakarta Outer Ring Road elevated project tender for the Ulujami toll road in Jati Asih, Bekasi, West Java, with an estimated investment value of Rp21.5 trillion (US$1.34 billion).

The company is affiliated with a consortium of state-owned firm, PT Adhi Karya Tbk (IDX: ADHI), publicly listed PT Acset Indonusa Tbk (IDX: ACST), and private company PT Triputra Utama Selaras, which has obtained a permit for the 22 kilometer (km) toll road on Jan. 21, 2020.

While, through Bosowa Marga Nusantara is continuing the construction of the Partarani overpass toll road in Makassar, with a length of 4.3 km after started since the end of April 2018 to unravel traffic jams in the city. The project has an investment value of Rp2.2 trillion.

MTPC’ parent, Metro Pacific Investments Corp., (PSE: MPI) was incorporated on March 20, 2006, as an investment holding company. The company is organized water, toll roads, power generation and distribution, healthcare services, light rail also logistics.

The subsidiaries are Manila Electric Company, Global Business Power Corporation, MTPC, Maynilad Water Holding Co., Inc., Metro Pacific Hospital Holdings, Inc., Metro Pacific Light Rail Corporation, and MetroPac Logistics Co., Inc.

US$1: Rp16,000

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