Metro Pacific tollways arm scales up presence in Indonesia
A unit of Metro Pacific Investments Corp. has raised its stake in PT Nusantra Infrastructure Tbk, an Indonesian infrastructure holding company, to 47.08 percent.
In a statement, MPIC said its subsidiary Metro Pacific Tollways Corp. indirectly acquired 6.6 billion shares of PT Nusantara, which has interests in tollroads, port operations, water, energy and telecommunications, for about $132 million.
“MPTC will support the existing management of PT Nusantara by sharing our brand of service and helping the Indonesian firm realize its growth potential, especially in the toll road sector,” said Rodrigo E. Franco, president and CEO of MPTC.
For his part, PT Nusantara CEO Muhammad Ramdani Basri said “MPTC’s entry has strengthened the Indonesian firm’s market position and will even accelerate its growth strides in the tollway business.”
“Our tie-up with MPTC blends the expansive management style of Metro Pacific with PT Nusantara’s geographic reach and expertise in managing Indonesian projects,” he added.
With a manpower of 700 employees, PT Nusantara provides services to more than 103 million customers, 550,000 households, 103 million vehicles, more than 210 vessels, and connecting millions of people through communications.
It operates a total of 34.47 kilometers in toll roads in four places connecting an airport, a seaport and business districts.
MPTC, the country’s leading tollways developer and operator, operates the 84-km. North Luzon Expressway, 94 km.-Subic Clark Tarlac Expressway, and the 14 km-Cavite Expressway.
It has three toll concessions currently under construction, namely the 45 km-Cavite Laguna Expressway, the 8 km Cebu-Cordova Link Expressway, and the 8 km NLEX-SLEX Connector Road.