Jasa Marga and Margautama Nusantara Sign Sales Purchase Agreement for PT Jasamarga Jalanlayang Cikampek
11 October 2022
Author: Administrator
The SPA signing was attended by President Director of PT Nusantara Infrastructure Tbk (NI) Ramdani Basri, Jasa Marga Business Director Reza Febriano, Jasa Marga Business Development Director M. Agus Setiawan, Jasa Marga Operations Director Fitri Wiyanti, Human Capital & Transformation Director Bagus Cahya A.B, PT MUN Director Anton Sujarwo, PT JTT Business Director Pratomo Bimawan Putra, PT JTT Finance Director Pramitha Wulanjani, PT Ranggi Sugiron Perkasa (RSP) Director Sunarijadi and PT JJC President Director Hari D. Pratama.
With the commitment from both parties through the SPA signing, Jasa Marga has officially divested 40% of the total 80% of Jasa Marga’s shares in PT JJC. After the SPA signing, the current Shareholders composition of PT JJC as of right now is 40% owned by PT JTT, which is a subholding of Jasa Marga, 40% is owned by PT MUN, a subsidiary of PT Nusantara Infrastructure Tbk and the remaining 20% is owned by PT RSP.
This corporate action is a part of Jasa Marga’s corporate strategy through the asset recycling program to optimize the business portfolio, in order to balance the growth and to maintain the company's business continuity.
In his remarks, Subakti Syukur, President Director of Jasa Marga addressed that in the last few months Jasa Marga had carried out intense discussions and negotiations with the Management of PT MUN, to an agreement for continuing the signing of the SPA of PT JJC, which would certainly be beneficial for all parties.
“I congratulate PT MUN, which has now become a strategic partner of Jasa Marga and PT RSP in the operation of the MBZ Elevated Toll Road. This toll road is a strategic route that has an important role in the Trans Java Toll Road network with traffic volumes that continue to grow from year to year. I believe that Jasa Marga and PT MUN have the same vision in realizing a professional, efficient and sustainable toll road operation, as well as prioritizing the best service to toll road users," said Subakti.
In line with Subakti, Danni Hasan, President Director of PT MUN also stated that the MBZ Elevated Toll Road is a strategic project that is expected to become one of the Company’s leading asset, in accordance with the investment target to increase the Company’s value, as well as being a concrete evidence of PT MUN's contribution in terms of supporting the creation of national connectivity.
“After going through a long process, MUN has finally officially acquired Jasa Marga's 40% stake in PT JJC while still complying with the principles of Good Corporate Governance (GCG). This corporate action is one of the Company's business strategies for the development of strategic toll roads in urban areas with a traffic growth rate that continues to grow in the long term," said Danni.
PT JJC is a Toll Road Business Entity that manages the 38 Km MBZ Elevated Toll Road which has been operating since 2019 with concession rights for 45 years (2017 to 2062). The MBZ Elevated Toll Road stretches from the Cikunir section to West Karawang which is an alternative route for long-distance toll road users who also distribute the traffic volume of the Jakarta-Cikampek Toll Road.
With the operations of the MBZ Elevated Toll Road in an integrated manner, the density of the Jakarta-Cikampek segment can be distributed effectively and efficiently, resulting in an increase in traffic flow on the route which is currently the main link to the Jakarta area to the east and vice versa.
