Metro Pacific Tollways Corp. said it will invest an additional $20 million to extend an existing toll road in Indonesia.
MPTC president and chief executive Rodrigo Franco said PT Nusantara was building a project called AP Pettarani elevated toll road to decongest traffic and build connectivity in the easter region of Indonesia.
“Were looking at an additional $20 million [investment] for that project,” Franco said.
Franco said the project would be an extension of an existing toll road going to the airport in South Sulowesti.
MPTC’s unit PT Metro Pacific Tollways Indonesia earlier acquired an additional 22.68-percent stake in PT Nusantara for P2.86 billion.
MPTI now owns a total of 77.94 percent of the outstanding capital stock of PT Nusantara on a fully diluted basis from 53.26 percent.
PT Nusantara’s infrastructure portfolio in Indonesia includes toll roads, ports, energy and water projects. It also 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.
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.
The MPIC Group operates the North Luzon Expressway, Subic-Tarlac Expressway and Manila-Cavite Toll Expressway in the Philippines.
The group is also building the P26-billion Cebu-Cordova Link Expressway project, an 8.25-km bridge that will connect Cebu City to Mactan Island via Cordova. The project is expected to be completed by 2020.
MPTC is also building the NLEx-SLEx Connector Road, an eight-kilometer, four-lane toll road linking the North Luzon Expressway and South Luzon Expressway, passing through Metro Manila and using the existing Philippine National Railway alignment as the route.
The company secured an original proponent status from the Public Works Department for the P22.4 billion Cavite-Tagaytay-Batangas Expressway project.
CTBex is a 50.4-kilometer expressway that will connect Cavite and Batangas, with a spur road to Tagaytay City and ultimately terminating in Nasugbu, with another spur road to Tuy, Batangas.