JAKARTA. APG Asset Management NV (APG) and the Abu Dhabi Investment Authority (ADIA) have followed up on the memorandum of understanding signed in 2021, to invest in the Trans Jawa Toll Road together with the Indonesia Investment Authority (INA).

The follow-up taken was the establishment of a toll road investment platform. After this platform is established, APG and ADIA will join INA to fund the Trans Jawa Kanci-Pejagan and Pejagan-Pemalang toll roads.

These two segments will be the initial assets for the APG and ADIA investment platforms. The investment opportunities targeted by this platform are up to US$2.75 billion for various toll road networks in Indonesia.

"By welcoming APG and ADIA as shareholders, we aim to increase our capacity to support and advance national strategic projects," said Ridha Wirakusumah, Chair of the INA Board of Directors, in an official statement. (KR/LM)