A toll road investment platform involving the Indonesian Investment Authority, Jakarta; APG Asset Management; and a subsidiary of the Abu Dhabi Investment Authority invested in two sections of the Trans Sumatran Toll Road, according to an announcement on Oct. 28.
The combined enterprise value of the assets, which comprise the Binjai and Bakauheni–Terbanggi Besar sections of the Trans Sumatra Toll Road in Medan, is valued at approximately $1.4 billion.
The platform targets up to $2.75 billion of toll road investments across Indonesia. It previously announced in January that it had made its first investment in two sections in the Trans Java Toll Road for an undisclosed sum.
“This investment not only solidifies our toll road platform with APG and ADIA, it also expands our asset base, establishing a scalable investment platform that opens new avenues for economic opportunities,” Ridha Wirakusumah, CEO of the $10.5 billion INA, said in the statement.
“Our investment in the Trans Sumatra Toll Road reflects our confidence in the enduring benefits that high quality infrastructure will create in Indonesia towards equitable and sustainable growth,” said Hans-Martin Aerts, head of infrastructure and private natural capital at APG Asset Management Asia-Pacific in the statement. APG manages approximately €603 billion ($673.1 billion) as of Sept. 30 in Dutch pension assets.
“This initiative demonstrates the foundational role that infrastructure holds in Asia for helping dispersed local economies connect and advance to the next level, impacting wide-ranging communities while delivering stable growth over the long-term,” he said.
