SMI and Taspen’s investment in PT Waskita Toll Road


Oentoeng Suria & Partners (“OSP”), an associated firm of Ashurst, has advised PT Sarana Multi Infrastruktur (Persero) (SMI) and PT Dana Tabungan Dan Asuransi Pegawai Negeri (Persero) (Taspen) on their equity investment of 29% of shares in PT Waskita Toll Road, a subsidiary of state-owned PT Waskita Karya Tbk (WSKT).

The closing of the transaction was undertaken today before the President of the Republic of Indonesia, Mr. Joko Widodo.

The initial equity investment by SMI and Taspen, worth [Rp3.5trillion] and in the future, the equity investment may be increased and it is expected to have a significant contribution towards the construction of the toll road infrastructure in Indonesia especially toll road projects under PT Waskita Toll Road. PT Waskita Toll Road is currently working on more than 14 toll projects with a total length of 750 km, including several toll road projects being the part of the trans-Java toll road linking Jakarta and Surabaya, due for completion in 2018-2019. PT Waskita Toll Road’s trans-Java toll road project will help to smooth transportation on the island, and will be the first project financed by pension funds.

The OSP team is led by partner Ratih (Ipop) Nawangsari (picture) and supported by senior associate Rizaldy Tauhid.

Involved fees earner: Ratih Nawangsari – Oentoeng Suria & Partners; Rizaldy Tauhid – Oentoeng Suria & Partners;

Law Firms: Oentoeng Suria & Partners;

Clients: PT Sarana Multi Infrastruktur (Persero) (SMI);

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Author: Michael Patrini