State-owned toll road operator PT Jasa Marga (JSMR) has joined forces with three major construction companies to set up PT Bogor Serpong Infra Selaras, a toll road business entity (BUJT), that will develop the Bogor-Serpong toll road via Parung aimed at enhancing connectivity at neighboring West Java and Banten provinces.
Nixon Sitorus, Corporate Secretary and Chief Administration Officer of Jasa Marga, revealed that the company has invested Rp4.39 billion (US$284,863), representing 26 percent of the total paid-up capital in PT Bogor Serpong Infra Selaras.
Other contributors to the project include PT Persada Utama Infra (PUI), a subsidiary of heavy equipment and mining company PT United Tractors; State-run developer PT Adhi Karya (ADHI); and State-owned construction company PT Hutama Karya Infrastruktur (HKI).
Nixon said that the establishment of this business entity is aimed at managing the construction, operation, and maintenance of the Bogor-Serpong toll road via Parung.
The venture also covers other related business activities in compliance with prevailing regulations.
“The formation of this joint venture will expand Jasa Marga’s market share in toll road development and operations in Indonesia,” Nixon stated in a public disclosure to the Indonesia Stock Exchange (IDX) on Thursday, September 12, 2024.
In terms of ownership, PT Persada Utama Infra holds the majority stake with 52 percent, followed by Jasa Marga with 26 percent, PT Adhi Karya with 12 percent, and PT Hutama Karya Infrastruktur with 10 percent.
