PTPP Releases Share Ownership In PT Jasamarga Pandaan Malang Tol

Photo: Doc. PTPP

JAKARTA - The state-owned construction company, PT PP (Persero) Tbk (PTPP) has signed a Sales Purchase Agreement (SPA) for share ownership in PT Jasamarga Pandaan Malang Tol.

The SPA signing ceremony took place at the PT Jasa Marga (Persero) Tbk Jakarta Office on Thursday, December 30. In the signing ceremony, Novel Arsyad as the President Director of PTPP represented the company in signing the SPA.

The signing ceremony was also attended by Deputy Minister of BUMN Kartika Wirjoatmodjo, President Director of PT Astra Tol Nusantara (ASTRA Infra) Djap Tet Fa, Director of PT Astra Tol Nusantara (ASTRA Infra) Kris Ade Sudiyono, President Director of PT Jasa Marga (Persero) Tbk Subakti Syukur, Director of PT Sarana Multi Infrastruktur (Persero) Darwin Trisna Djajawinata, and President Director of PT Jasamarga Pandaan Malang Toll Netty Renova.

In the signing, PTPP agreed to release the company's 35 percent stake in PT Jasamarga Pandaan Malang Tol to PT Astra Tol Nusantara (ASTRA Infra). ASTRA Infra is a business group with more than 25 years of experience as an operator investor in the infrastructure industry.

PT Jasamarga Pandaan Malang Tol (JPM) is a company engaged in toll road concessions for the Pandaan-Malang segment which was formed in 2016 with a toll road segment length of 38.5 kilometers. The Pandaan-Malang Toll Road is one of the National Strategic Projects (PSN) located in East Java Province and has been fully operational since 2020.

The Pandaan-Malang Toll Road is designed to improve connectivity in this area. In addition, the Pandaan-Malang Toll Road also has lanes that cross three areas, namely Pasuruan Regency, Malang Regency, and Malang City.

The presence of the toll road has provided high economic benefits to Indonesia, especially the people in East Java Province. The Pandaan-Malang Toll Road connects with the existing national roads, starting from Pandaan and then heading south, namely Purwosari, Purwodadi, Lawang, Singosari, Karanglo, and ending in Malang.

One of the benefits felt by the presence of this toll road is to facilitate connectivity for the community and increase logistics mobility so that it can improve the economy in the East Java region, especially Surabaya, Pandaan to Malang.

In addition, the presence of this toll road also increases the potential for tourist destinations in the area. Likewise, in supporting the flow of people mobilization to the need for logistical goods between the cities of Surabaya and Malang, this toll road also helps facilitate the mobility of vehicles so that travel times are shorter and more efficient.

"The corporate action that we took at the end of 2021 is an important momentum for PTPP in accordance with the smart recycling asset program this year by releasing 35 percent of the share ownership in JPM. The smart asset recycling program is one of the strategies launched by PTPP since the beginning of the year," said PTPP President Director Novel Arsyad in a written statement.

"Of course we really welcome the establishment of this mutual agreement. The fresh funds from the smart recycling of assets for the Pandaan-Malang Toll Road will be used for additional working capital for the company and the development of other infrastructure investment projects. We believe this corporate action will provide good benefits for ASTRA Infra and also for PTPP itself," he concluded.