This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Bisnis Indonesia - Portofolio INA di jalan tol: Target investasi US$2,75 miliar
11 January 2024
By Tegar Arief
Bisnis, Jakarta – Indonesia Investment Authority (INA) is targeting to invest Rp2.75 billion in various toll road networks in Indonesia.
The government’s investment vehicle is continuously negotiating with various strategic partners globally, including private companies and sovereign wealth funds.
Recently, INA has established a strategic partnership with a pension fund investor from the Netherlands, APG Asset Management N.V (APG), and a subsidiary of Abu Dhabi Investment Authority (ADIA) to invest in the Kanci-Pejagan and Pejagan-Pemalang segments of Trans-Java Toll Road.
“The segments are the initial assets of the platform, targeting an investment of up to Rp2.75 billion in various toll road networks in Indonesia,” Chairperson of the Board of Directors of INA Ridha Wirakusumah said on Wednesday (10/1).
He added that the partnership with APG and ADIA was part of INA’s effort to support and advance national strategic projects.
“For INA, the transaction is a subsequent step following a prior transaction with PT Waskita Transjawa Toll Road and PT Waskita Toll Road, which are subsidiaries of PT Waskita Karya, for the same assets,” Ridha explained.
APG Asset Management Asia Pacific Head of Infrastructure and Natural Resources Hans-Martin Aerts said that infrastructure remained the foundation supporting regional economic growth while ensuring a stable return on investment.
He added that, through the investment, the company was aiming to bolster the community to maximise the economic value by providing interregional connectivity.
“For the sake of APG’s pension fund customers and the participants, the risks are measured,” he stated.
Bisnis reported a substantial surge in INA's investments in 2022, particularly in equities, rising from Rp3.24 trillion in 2021 to Rp10.83 trillion in 2022, reflecting an impressive growth of 234.25%.
In accordance, INA’s net profit also surged by 1,026% from Rp231 billion in 2021 to Rp2.6 trillion last year.
