PT. Nusantara Infrastructure, Tbk further strengthen its position as the leading infrastructure company in Indonesia
Jakarta, 30th November 2010
PT. Nusantara Infrastructure, Tbk further strengthen its position as the leading infrastructure company in Indonesia. The latest addition of the new shareholder, Rajawali Group, will strengthen the company in its endeavor to control various infrastructure sectors.
Rajawali Group officially owns 23.6% shares at PT. Nusantara Infrastructure, Tbk (META), by subscribing to 3.2 billion shares previously owned by Infrastructure Growth Fund (IGF) on Friday (November 26, 2010). The transaction amount reached Rp 448 billions.
“In line with the company’s target to be the leading infrastructure company, we consistently grow our business with the firm support of our shareholders to embark on various sectors of infrastructure development. Through innovation and solid fund managements, the company will expand its portfolio into other sectors beyond toll roads, such as sea ports, energy, as well as other infrastructure supporting industries,“ said M. Ramdani Basri, the President Director of PT. Nusantara Infrastructure, Tbk.
Ramdani further add: “The combination between foreign and domestic shareholders such as Rajawali Group indicates the significant potential of this sector. This will make our future expansion plan even more focused, and consequently will enable us to improve the company’s performance as well as to create values to shareholders.”
Darjoto Setiawan, the Managing Director of the Rajawali Group expresses,”We are committed to support the company and further expand our businesses into the infrastructure sector. This sector holds a huge prospect, and the role of private sector will accelerate Indonesian economic growth.”
The Indonesian infrastructure development is one of the sectors which have been widely criticized by foreign investors. It requires commitments and innovative funding, particularly those pertaining to land acquisitions, in addition to government firm standing with regards to the realization of existing contracts.
“We expect the Government to recognize the private investor’s interest to embark on this sector as a positive sign. Our participation in developing infrastructure in various regions in Indonesia is a true evident of our leadership in this sector. We expect the government to support and act as our strategic partner, so our objective in developing the much needed infrastructure, may be accomplished in the shortest time possible,” added Bernardus Djonoputro, the company’s Director of Corporate Affairs & Communications.
End of Press Release.
Notes:
PT. Nusantara Infrastructure, Tbk (META) currently the operates of 4 toll roads through its subsidiaries, namely Jakarta-Bumi Serpong Damai (BSD) toll road section which extends for 7.25 km, Bosowa-Makassar toll road section with a total length of 5.95 km, Makasar Seksi Empat Toll Road section which extends 11.7 km and officially operated on September last year, and Jakarta Outer Ring Road, W1 section which connects Kebon Jeruk and Penjaringan.
Rajawali Group presently engages in various sectors such as mining, transportation, agricultural estate, infrastructures, retail, and hospitality businesses. In infrastructure sectors, Rajawali is the controlling shareholder at PT. Transpacific Railway Infrastructure which manages railway project development in South Sumatra in addition to PT. Express Transindo Utama, a transportation company.
IGF (Infrastructure Growth Fund) is a fund that aims to focus in investment in infrastructure assets in the South East Asia regions. The fund established in Singapore in April 2010 and is managed by Emerging Infrastructure Management Co.Pte.Ltd as the general partner. IGF retains some minority stake in PT Nusantara Infrastructure Tbk post the divestment.
