MPIC may invest more in Indonesia
JAKARTA, Indonesia—Philippine conglomerate Metro Pacific Investments Corp. is committed to pour more investments in Indonesia after acquiring a significant stake in a Jakarta-based infrastructure company.
“While the company that’s formally participated in the investment is Metro Pacific Tollways Corp., it will not stop us asking from other companies within the group to also look at opportunities with Nusantara Infrastructure. If there’s an opportunity for instance in the water sector we will ask our water sector sister company to look at the opportunities,” MPTC president and chief executive Rodrigo Franco told reporters Wednesday in a press briefing.
MPTC has so far invested about P7.5 billon for 47.08 percent of the total issued capital stock of PT Nusantara Infrastructure Tbk (PT Nusantara), which has interests in toll roads, port operations, water, energy and telecommunications.
“We are happy with our stake, if there are future plans on the company we will discuss with them because we are committed to them and support the management on their plans. So, we’ll just wait to discuss with the management on what the future plans will be and how we can assist them in their future plan,” Franco said.
“There’s a lot of opportunities not only toll roads, we can discuss with our partner,” said PT Nusantara chief executive Muhammad Ramdami Basri.
He said the partnership with Metro Pacific was part of the company’s commitment as private sector, which actively contributes in accelerating infrastructure development in Indonesia, without relying on state budget.
The Ministry of National Development Planning of Indonesia has estimated that the country’s financial gap is about 4,000 trillion rupiah or about $350 billion to fund infrastructure development through 2019.
PT Nusantara holds the concession of Jakarta Outer Ring W1 section of Kebon Jeruk-Penjaringan, BSD Toll road section of Pondok Aren-Serpong, BMN toll road Makassar for Soekarno Hatta Seaport-Pettarni and JTSE toll road for Tallo-Hasanuddin Airport toll section.
Through its involvement in toll roads, water, energy, port operations and telecommunications, PT Nusantara provides services to over 103 million customers, 550,000 households, 103 million vehicles, more than 210 vessels, and connecting millions of people through communications.
MPTC, meanwhile, currently operates the 84-km. North Luzon Expressway (NLEX), 94 km.-Subic Clark Tarlac Expressway (SCTEX), and the 14 km-Cavite Expressway.