Metro Pacific Tollways set to wrap up Indonesian toll road deal
MANILA, Philippines — Metro Pacific Tollways Corp. (MPTC) is likely to finalize this week the acquisition of a 35-percent stake in the 676-kilometer (km) Trans-Java toll road in Indonesia, a deal that will bring in some P30 billion annual revenue for the company.
This was confirmed by Manuel Pangilinan, chair and president of MPTC parent company Metro Pacific Investments Corp. (MPIC), in an interview with reporters last week.
MPTC and its partner, Singaporean investor GIC, have been negotiating with state-backed Indonesian toll firm PT Jasamarga Transjawa Tol (JTT) for this transaction.
Comprising 13 toll interchanges, the JTT road network traverses West Java, Central Java, and East Java. Pangilinan said it was estimated that about 750,000 to 800,000 vehicles pass through the tollway each day.
MPTC currently has concessions to operate four tollway projects in Indonesia, which span nearly 39 km in total.
READ: Metro Pacific unit to buy 40% of Jakarta expressway
Article continues after this advertisementThese include Jakarta Lingkar Baratsatu (Jakarta International Airport Toll Road), Bintaro Serpong Damai (Commuter Road), Jalan Tol Seksi Empat (Makassar International Airport Toll Road) and Makassar Metro Network (Harbour Road).
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Meanwhile, MPTC operates in Vietnam a 120-km expressway network, which includes DT741, PRTC 1 and 2, Rach Mieu 2, and Co Chien.
Locally, the Pangilinan-led toll operator’s network spans 284 km. These include North Luzon Expressway (NLEx), Manila-Cavite Expressway (Cavitex), NLEx Connector, Cavite-Laguna Expressway, Subic-Clark Tarlac Expressway and Cebu-Cordova Link Expressway.
READ: $1-B Indonesia toll roads enter MVP-RSA mega merger talks
The tollway company inaugurated the Sucat Interchange of the 7.7-km Cavitex C5 Link Expressway last week. This segment is expected to benefit about 16,000 daily motorists traveling between Cavitex and Sucat.
It also recently broke ground for the 1.3-km toll road connecting Cavitex and Calax.
MPTC is currently working on a potential mega tollway company with Ang-owned San Miguel Corp. after the parties announced a collaboration last year for an 88-km toll road in Southern Tagalog.
The P72-billion project, set to have a groundbreaking this year, will traverse Silang, Amadeo, Tagaytay, Indang, Mendez, and Alfonso in Cavite and will link motorists to Nasugbu and Bauan, Batangas.
