MVP Group to spend $20M more for Indonesian tollroad project
Metro Pacific Tollways Corp. will invest an additional $20 million in an elevated toll road project in Indonesia.
MPTC president Rodrigo Franco said PT Nusantara’s project, an extension of an existing tillroad going to rhe airpprt in South Sulowesti, is itended to decongest traffic and build connectivity in Indonesia’s eastern portion.
MPTC, through unit PT Metro Pacific Tollways Indonesia, earlier invested an additional P2.86 billion worth of shares in PT Nusantra to bring its total stake to 77.94 percent.
PT Nusantara’s infrastructure portfolio in Indonesia includes toll roads, ports, energy and water projects.
It holds the concession of Jakarta Outer Ring W1 section of Kebon Jeruk-Penjaringan, BSD Toll road section of Pondok Aren-Serpong, BMN toll road Makassar for Soekarno Hatta Seaport-Pettarni and JTSE toll road for Tallo-Hasanuddin Airport toll section.
PT Nusantara provides services to over 103 million customers, 550,000 households, 103 million vehicles, more than 210 vessels and connecting millions of people through communications.
The MPIC Group, on the other hand, operates the North Luzon Expressway, Subic-Tarlac Expressway and Manila-Cavite Toll Expressway.