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October 2024
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October 2024
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Indonesia wealth fund INA, Abu Dhabi peer and APG plan US$2.75 billion investment in Sumatra toll road

INA says the Trans Sumatra Toll Road initiative is central to Indonesia's strategy to foster equitable economic growth, especially across Sumatra.
By Goh Thean Eu   
October 30, 2024

Indonesian sovereign wealth fund Indonesia Investment Authority (INA), Dutch pension fund APG and Abu Dhabi’s wealth fund Abu Dhabi Investment Authority have teamed up to invest as much as US$2.75 billion in the Trans Sumatra Toll Road project.

The investment “solidifies our toll road investment portfolio with APG and ADIA” and “expands our asset base, establishing a scalable investment portfolio that opens new avenues for economic opportunities”, Ridha Wirakusumah, chief executive officer of INA, says in a statement on October 28.

According to the wealth fund, the project is central to Indonesia’s strategy to “foster equitable economic growth” especially across Sumatra, an island with over 58 million people that was responsible for 22% of Indonesia’s gross domestic product in the second quarter this year.

Hans-Martin Aerts, head of infrastructure and private natural capital at APG Asset Management Asia Pacific, says the pension fund’s investment “reflects our confidence in the enduring benefits that high quality infrastructure will create in Indonesia towards equitable and sustainable growth”.

“In collaboration with our partners, we aim to strengthen the connectivity between key developmental hubs, helping accelerate economic activity and access to new opportunities across industries in Sumatra,” he says.