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INA, Hutama Karya wrap up sale of Trans-Sumatra road sections
The INA and Hutama Karya have completed the sale of two sections of the Trans-Sumatra toll road to two subsidiaries belonging to the sovereign wealth fund, according to a statement on Wednesday.
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Workers from PT Waskita Sriwijaya, a subsidiary of state-owned construction firm Waskita Karya, use rakes on April 3, 2023 to spread asphalt along a section of the Trans-Sumatra Toll Road in Ogan Komering Ilir regency, South Sumatra. (Antara/Nova Wahyudi)
T
he Indonesia Investment Authority (INA) announced on Wednesday that it and state-owned construction company Hutama Karya had completed the sale of two sections of the Trans-Sumatra Toll Road, one section from Medan to Binjai and another from Bakauheni to Terbanggi Besar.
Hutama Karya sold the road sections to INA subsidiaries PT Swarna Investasi Indonesia and PT Abhinaya Investasi Indonesia, according to an INA press release.
“Through [our] investment in two key sections of the Trans-Sumatra Toll Road, we affirm our confidence in the potential of Sumatra’s toll road,” INA CEO Ridha Wirakusumah said in the statement.
He said the investment would pave the way for domestic and international investors to participate in developing the country’s infrastructure for “returns that align with investment risks”.
The investment would also help improve existing services, the statement said.
Completed in 2019, the 141-kilometer Bakauheni-Terbanggi Besar road section in Lampung is one of the longest in Indonesia, second only to the 189.1 km Terbanggi Besar-Kayu Agung section.
Albeit much shorter at 17 km, the Medan-Binjai section plays an important role on the island, given that the North Sumatra capital of Medan is the largest metropolitan area on Sumatra with a population of more than 2 million people.
