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Astra Infra takes over shares of Cipali toll road owner
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Vehicles approach the Cikopo-Palimanan (Cipali) tollgate in Cirebon, West Java. (Antara/Dedhez Anggara)
C
onstruction firm PT Astratel Nusantara (Astra Infra) has become the sole shareholder of PT Baskhara Utama Sedaya (BUS), one of the owners of the Cikopo-Palimanan toll road (Cipali toll road), following the recent acquisition of 60 percent of BUS shares.
The 60 percent shares were acquired from PT Karsa Sedaya Sejahtera (KSS) and PT Nusa Raya Cipta (NRCA), both subsidiaries of PT Surya Semesta Internusa (SSIA), in a transaction worth Rp 2.56 trillion signed in Jakarta on Monday.
In January, Astra Infra bought 40 percent of BUS from a PT Saratoga Investama Sedaya subsidiary, PT Interra Indo Resource (Interra).
With the acquisition, Astra Infra owns 45 percent of PT Lintas Marga Sedaya (LMS), the operator of the Cipali toll road.
“By owning 45 percent of LMS, it will be easier for us to develop our toll road business,” Astra Infra director Wiwiek D. Santoso announced at a press briefing following the transaction.
The acquisition is one of the Astra Infra’s efforts to achieve its target to operate 500 kilometers of toll roads by 2020. “We currently operate 353 kilometers of toll road, which means we need about 150 kilometers more.” (ecn/bbn)
