MPTC to acquire 35% stake in Trans-Java toll road

Metro Pacific Tollways Corp (MPTC) is set to finalize this week the acquisition of a 35% stake in Indonesia's 676-kilometer Trans-Java toll road project, expected to generate P30 billion annually.

Chairman Manuel V. Pangilinan confirmed that MPTC and its partner Singaporean investor GIC are negotiating with state-backed Indonesian toll firm PT Jasamarga Transjawa Tol (JTT) for the deal.

MPTC plans to invest about $600 million (P35.3 billion) in the project, aiming for financial closing three months after signing and integration into a joint venture with San Miguel Corp.

The Trans-Java toll road network spans West Java, Central Java, and East Java, handling an estimated 750,000 to 800,000 vehicles daily.

Locally, MPTC operates a 284-kilometer network including the North Luzon Expressway (NLEx) and Manila-Cavite Expressway (Cavitex), with recent expansions like the Sucat Interchange of the Cavitex C5 Link Expressway.