30 December 2021
PTPP Releases Share Ownership in PT Jasamarga Pandaan Malang Tol
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 (30/12). 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. The implementation of the SPA signing was carried out by implementing the Covid-19 Health protocol strictly.
In the signing, PTPP agreed to release the company's 35% stake in PT Jasamarga Pandaan Malang Tol to PT Astra Tol Nusantara (ASTRA Infra). ASTRA Infra is a business group with more than 25 (twenty five) 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 of 38.5 kilometers long. 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 region. In addition, the Pandaan-Malang Toll Road also has lanes that cross 3 (three) regions, 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, Karangko, 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 logistics goods between the cities of Surabaya and Malang, this toll road also helps facilitate the mobility of vehicles so that the travel time is shorter and more efficient.