APG belegt in Indonesische tolwegen

11 januari 2024

Following the Memorandum of Understanding signed on May 2021 to establish Indonesia’s first toll road investment platform, Dutch pension investor, APG Asset Management N.V (APG), alongside a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), today announced an investment in the Trans Java Toll Road sections of Kanci-Pejagan and Pejagan-Pemalang. These sections are the initial seed assets for the platform, which is targeting up to USD 2.75 billion of investment opportunities in Indonesia’s toll road networks.

For INA, this transaction is a follow-on investment from the prior transaction with PT Waskita Transjawa Toll Road and PT Waskita Toll Road, the subsidiaries of PT Waskita Karya (Persero) Tbk, for the same assets and is in line with INA’s mission to contribute to sustainable economic development in Indonesia and bringing world class partner investors to Indonesia.

The Kanci – Pejagan and PejaganPemalang toll road sections are instrumental in boosting regional connectivity and fostering economic growth. These toll road sections are proven to reduce travel times between major urban centers and increasing access to key industrial hubs and ports, resulting in a multiplier effect of domestic economic development and job creation. These sections have also seen a surge in the traffic growth, with daily vehicle numbers growing from 13,202 in 2016 to 22,206 in 2021, representing an increase of more than 1.5 times, underscoring their role in Indonesia’s infrastructural advancement.

“The advancement of Indonesia’s infrastructure receives a substantial boost today. This platform integrates the world-class expertise and robust track records of our partners in global toll road investments into Indonesia’s infrastructure landscape. By welcoming APG and ADIA as shareholders, we aim to bolster our capacity to support and advance strategic national development projects, which is anticipated to yield significant economic benefits and propel Indonesia into a future of connectivity and prosperity, stated Ridha Wirakusumah, CEO of INA.”

“Such significant progress for Indonesia has been made possible through effective cooperation and support from the Ministry of Public Works and Housing, the Directorate of Highways (JBH) – Directorate General of Bina Marga, the Toll Road Regulatory Agency (BPJT), the Attorney General for Civil and State Administration (JAMDATUN), the Ministry of StateOwned Enterprises, and the Ministry of Finance.”

Hans-Martin Aerts, Head of Infrastructure & Natural Resources at APG Asset Management Asia-Pacific said, “Infrastructure remains a foundational need for supporting the region’s economic growth and delivers stable, risk-adjusted returns for the benefit of APG’s pension fund clients and their participants.

With this investment, we aim to help communities unlock economic value by providing connectivity between developing rural and urban regions through quality infrastructure. We look forward to working with our partners to support Indonesia’s infrastructure improvements as its economy continues to undertake a transformative journey.”

Khadem Alremeithi, Executive Director of the Infrastructure Department at ADIA, said: “As one of the world’s fastest growing economies, Indonesia is developing its infrastructure to support increased industrialization and more efficient supply chains. The Trans Java Toll Road is a key part of these plans. We are pleased to support its development through this platform with INA and APG, which will continue to seek additional opportunities to invest in Indonesia toll roads.”

The toll road platform introduces significant global expertise to the Trans Java Toll Road project. This is in line with INA’s strategic objectives to diversify risk and optimize capital allocation, driving the development of high-quality, as well as sustainable infrastructure projects that will bolster Indonesia’s long-term infrastructural landscape.

Source: APG
Multiple reports with cicle diagram and text

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