UEM Group Bhd, the construction arm of Khazanah Nasional Bhd, plans to expand its highway concession business in Indonesia after winning President Joko “Jokowi” Widodo approval for completing the country’s longest toll road project ahead of schedule.
The 116.8km Cikopo-Palimanan stretch(pic) was open to traffic at midnight on Sunday. PT Lintas Marga Sedaya, in which UEM Group has 55% stake, is the concession holder for 35 years.
The RM3.53bil project was awarded in 2006, but it took more than six years to complete land acquisitions and the required approvals before construction works started in 2013.
In his speech at the opening ceremony, Jokowi pledged to speed up project awards and implementation as Indonesia sought to attract fresh foreign investment into the country’s infrastructure sector.
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The 116.8km Cikopo-Palimanan stretch(pic) was open to traffic at midnight on Sunday. PT Lintas Marga Sedaya, in which UEM Group has 55% stake, is the concession holder for 35 years.
The RM3.53bil project was awarded in 2006, but it took more than six years to complete land acquisitions and the required approvals before construction works started in 2013.
In his speech at the opening ceremony, Jokowi pledged to speed up project awards and implementation as Indonesia sought to attract fresh foreign investment into the country’s infrastructure sector.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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