PT PP (Persero) Tbk (PTPP), a state-owned construction company, has been appointed by the government as the developer of three new toll roads, namely Pandaan-Malang, Balikpapan, and Manado-Bitung. This will be a positive catalyst for the stock movement as well as the growth performance of PTPP.
In the three toll road projects, PTPP will have equity financing and will form a consortium with several state-owned enterprises (SOEs) in the toll road sector, construction, and financing.
In the 39-km Manado-Bitung toll road, PTPP’s equity participation in the joint venture amounts to Rp9,45 billion. The toll road will be undertaken by PT Jasamarga Manado Bitung, a consortium of PT PP, PT Jasa Marga Tbk (JSMR), and PT Wijaya Karya (Persero) Tbk (WIKA).
While in the 99-km Balikpapan-Samarinda toll road, PTPP’s equity participation in the joint venture totals Rp 16.8 billion and will be carried out by PT Jasamarga Balikpapan, a consortium of PT PP, Jasa Marga, Wijaya Karya, and PT Bangun Tjipta Means (BTS).
And in the 38-km Pandaan-Malang toll road, the investment value in the joint venture with PT Jasamarga Pandaan Malang is worth Rp 25.2 billion, and is implemented by the Consortium of PT PP, Jasa Marga and PT Sarana Multi Infrastruktur (Persero). (*)
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