Metro Pacific Tollways Corp. (MPTC), a major toll road-provider in the Philippines, and its partner, GIC, a global institutional investor, are planning to enter into a strategic investment cooperation for a 35 percent stake — worth about $1 billion — in Jasamarga Transjawa Tol (JTT), a subsidiary of the Indonesian state-owned toll-road operator, PT Jasa Marga (Persero) Tbk (Jasa Marga).
JTT is a network of 13 toll roads in the provinces of West Java, Central Java and East Java. The combined 676-kilometer (420-mile) long road allows the efficient flow of 850,000 vehicles daily across Indonesia’s economic powerhouse of Java Island.
In 2023, GIC purchased a 33 percent stake in PT Margautama Nusantara (MUN) for $209.9 million. MPTC’s stake in MUN has decreased to 60.3 percent, but it continues to hold the majority share. MPTC also partnered with GIC in bidding for JTT. MPTC said it is executing its part of the cooperation through its subsidiaries PT Margautama Nusa
