TEMPO.CO, Jakarta - The Indonesia Investment Authority (INA) spent Rp20.5 trillion to acquire two Trans Sumatra Toll Road sections which were previously worked on by PT Hutama Karya (Persero). The two toll roads are Medan-Binjai and Bakauheni-Terbanggi Besar.

The investment transaction between INA and Hutama Karya was signed Thursday, 13 July by Hutama Karya president director Budi Harto and INA's Board of Directors head Ridha Wirakusumah.

"For Hutama Karya, this collaboration is expected to have a multiplicative effect on the sustainable construction of JTTS, and reduce corporate loans in building the Trans Sumatra Toll Road," Budi Harto said.

The SOE Ministry's Second Deputy, Kartika Wirjoatmodjo, said this investment is a strategic position that can strengthen connectivity, increase economic activity, and logistics efficiency.

"We know Sumatra is very important for Indonesia, we can also see from the data, that with the occurrence of this (JTTS) there are new economic centers and traffic continues to increase," said Kartika in a written statement on Thursday, July 13, 2023.

The transaction agreement is expected to increase investors' confidence and accelerate the completion of other JTTS segments. Not only that, the SOE Ministry also has a commitment to improve the investment climate of state-owned companies.

Moh. Khory Alfarizi

Editor's Choice: Foreign Investors Eyeing Trans Java Toll Road

Click here to get the latest news updates from Tempo on Google News