December 24, 2014
West Nippon Expressway Company Limited
Japan Expressway International Company Limited
Press Release
Entering the Expressway Business in Indonesia
~The acquisition of shares in PT Bintaro Serpong Damai~
On November 18, 2014, West Nippon Expressway Company Limited (NEXCO West) (Head office: Kita-ku, Osaka,
President and Representative Director: Yoshinari Ishizuka) and Japan Expressway International Company Limited
(JEXWAY) (Head office: Chiyoda-ku, Tokyo, President: Koji Kuroda) that was jointly established by East Nippon
Expressway Company Limited, Central Nippon Expressway Company Limited, West Nippon Expressway Company
Limited, Metropolitan Expressway Company Limited and Hanshin Expressway Company Limited have entered into the
agreement with PT(*1) Nusantara Infrastructure Tbk. (*2) (hereinafter referred to as the “NI”) for the acquisition of 4.18%
(approx. 350 million JPY) of the shares in PT Bintaro Serpong Damai, the operation company for Bintaro-Serpong toll road
(7.25km) in Indonesia. This is the first entering road PPP business in Indonesia as Japanese expressway companies.
*1
PT (Perseroan Terbatas) means “limited company” in Indonesian.
*2
Tbk (Terbuka) means “public company” in Indonesian.
1. Background
NEXCO West and JEXWAY have been studying participation in road PPP (Public Private Partnership) in Indonesia
through the market research conducted by the Indonesia Representative Office in Jakarta opened by NEXCO West in July
2011, for the purpose of contributing infrastructure development in overseas by offering the know-how of toll road business
in Japan, along with the Infrastructure Export Strategy of the Japanese government. In June 2013, NEXCO West and
JEXWAY entered into a Non-Disclosure Agreement with NI that had showed high interest to Japanese expressway
technology, and the partnership with NI has been fostering.
2. The transaction and future development
NEXCO West, JEXWAY and NI entered into the agreement for the acquisition of 4.18 % of the shares (equals to 18,900
shares, and approx. 350 million JPY) in PT Bintaro Serpong Damai (BSD), the company that operates Bintaro-Serpong toll
road (7.25km) in the suburbs of Jakarta on November 18, 2014. The acquisition of the shares has been completed on
December 18.
NEXCO West and JEXWAY will develop mutually beneficial businesses in a step-by-step manner with NI and PT
Margautama Nusantara (MUN), the majority shareholder of BSD and the subsidiary of NI, through sharing the technical
solution that meets the needs in Indonesia by utilizing operation know-how and skills obtained from the long-time
experience of expressway operations in Japan and by concluding a technical cooperation agreement.
Thus, NEXCO West and JEXWAY aim to develop the expressway business in Indonesia and contribute to the sustainable
growth and development of the international society and economy by accumulating these business partnerships.
Main history
July 2011
September 2011
June 2013
18 November, 2014
18 December, 2014
January 2015
(Scheduled)
Indonesia Representative Office in Jakarta was opened by NEXCO West.
JEXWAY was established.
Non-Disclosure Agreement between NEXCO West, JEXWAY and NI
The agreement for the transfer of the shares of PT Bintaro Serpong Damai between
NEXCO West, JEXWAY and NI.
The transfer of the shares in PT Bintaro Serpong Damai between NEXCO West,
JEXWAY and NI.
The shares of NEXCO West and JEXWAY will be registered by the Indonesian
Government.
Pictures of Bintaro-Serpong toll road
Panoramic view
Toll plaza at Pondok Aren (Outbound line)
Main road (1)
Main road (2)
Bintaro-Serpong toll road project/Investment summary
1) Project Name
Bintaro Serpong Damai toll road project
2) Company Name
PT Bintaro Serpong Damai
3) Location
South Tangerang city in the Province of Banten, Indonesia
4) Project Summary
Concession Period
1999 to 2028
Total Length
7.25km
Number of Lanes
6 lanes(2 directions x 3 lanes)
Traffic Volume
84,665 vehicles per day
(stated in NI financial statement of 2013)
5) Investment Summary
Investment Amount
35 billion IDR (Approx. 350 million JPY)
Exchange rate: 1 IDR=0.00991JPY
Acquired Shares
(Breakdown)
Shares in BSD
18,900 shares (4.18%)
JEXWAY
13,246 shares (2.93%)
NEXCO West
Financial Adviser
5,654 shares (1.25%)
Mizuho Bank, Ltd.
Relationship Diagram
Acquisition of Shares in BSD
Special Purpose
Company
(Excerpted from NI
Location Map of Bintaro-Serpong toll road
company website)
Bintaro-Serpong toll road
L=7.25km
(Google Map)
Company Profile of PT. Nusantara Infrastructure Tbk.
1) Company Name
PT Nusantara Infrastructure Tbk.
2) Location
Jakarta, Indonesia
3) Establishment Year
1995
4) Business Summary
Operation of the infrastructure industry in Indonesia (road, water, ports, power etc.)
Capital
1066.4 billion IDR
(Approx. 10.6 billion JPY)
Total Revenue
425.8 billion IDR
(Approx.
Total assets:
2579.5 billion IDR
(Approx. 25.6 billion JPY)
4.2 billion JPY)
Stated in NI financial statement of 2013
Signing Ceremony on November 18, 2014
From the observers' left, Mr. Danni Hasan (COO of NI), Mr. M. Ramdani Basri (President Director of NI),
Mr. Yoshinari Ishizuka (President Director of NEXCO West), Mr. Koji Kuroda (President of JEXWAY)