Jakarta, Indonesia Sentinel — Toll road infrastructure has become a promising investment sector in Indonesia, attracting the interest of some of the nation’s wealthiest conglomerates. With long-term returns secured by consistent public use, giants like Salim Group, Jusuf Hamka, and others are expanding their footprint in the toll road business.
Recent Developments: Salim Group’s Major Acquisition
PT Nusantara Infrastructure Tbk. (META), in a consortium with GIC-MPTC, recently acquired a 35% stake in PT Jasamarga Transjawa Tol (JTT) for Rp15.75 trillion (approximately $1 billion) on September 27, 2024. This acquisition, executed through a Sales Purchase Agreement (SPA), reflects the growing dominance of Salim Group in the toll road industry.
The new ownership structure of JTT includes Metro Pacific Tollways Indonesia Services (MPTIS) with a 20.3% stake, Warrington Investment Pte Ltd (10.5%), and PT Margautama Nusantara (4.2%). These entities are all affiliated with the Salim Group, which holds a controlling 95.52% stake in META.
Led by Anthoni Salim, the Salim Group has emerged as one of Indonesia’s leading players in toll road development, positioning itself as a dominant force in the sector.
Key Players in Indonesia’s Toll Road Industry
- Jusuf Hamka: The Pioneer of Private Toll Roads
Jusuf Hamka’s PT Citra Marga Nusaphala Persada Tbk. (CMNP) stands as Indonesia’s first private toll road operator. With ownership of seven strategically located in the Greater Jakarta area (Jabodetabek), CMNP is a cornerstone of the nation’s toll road network. - Agung Sedayu Group: Developing Connectivity for the Future
Sugianto Kusuma, also known as Aguan, is spearheading the Kamal-Teluknaga-Rajeg toll road project through Agung Sedayu Group. The Rp23.22 trillion ($1.5 billion) project aims to enhance connectivity between Tangerang and northern Jakarta, with completion targeted for 2025.
Additionally, Agung Sedayu and Salim Group are jointly developing under PT Duta Graha Karya, leveraging their collaboration in the Pantai Indah Kapuk (PIK) 2 mega-development project. - Sinar Mas Group: Connecting Urban Growth
The Sinar Mas Group has also entered the fray. Through PT Trans Bumi Serbaraja, it launched Section 1B of the Serpong-Balaraja Toll Road (CBD BSD-Legok), spanning 5.73 km. Officially opened on September 30, 2024, this is part of the National Strategic Projects (PSN) initiative, supporting urban connectivity without tariffs during its initial operational phase.
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Strategic Asset
Indonesia’s toll roads, particularly those connecting major economic hubs, represent a key growth area for investors. These projects often align with government-backed infrastructure goals, making them attractive for conglomerates aiming to diversify their portfolios.
With the combined expertise and financial power of major players like Salim, Agung Sedayu, Jusuf Hamka, and Sinar Mas, the Sector is set to grow significantly, fueling Indonesia’s economic expansion.
(Becky)
