JAKARTA. PT Acset Indonusa Tbk (ACST), a construction company under Astra Group, announces an establishment of Joint Venture (JV)) along with PT Adhi Karya (Persero) Tbk (ADHI).

Kadek Ratih Paramita Absari, Corporate Secretary of ACST, said that this joint venture is formed alongside PT Marga Metro Nusantara and ADHI. “It is named PT Jakarta Metro Ekspressway (JME),” Absari said in the information disclosure today.

JME will conduct toll road management business, starting from funding, engineering planning, construction, operation, and maintenance of toll road.

In this joint venture, MMN reportedly owns 22,865 shares worth IDR 22.87 billion, equal to 85% of JME’s shares. ADHI has another 2,690 shares worth IDR 2.69 billion or 10%, while ACST records another 1,345 shares worth IDR 1.35 billion or 5%.

“The fund source used for the company to fulfil its portion of shares in the establishment of JME is the equity of the company,” Absari clarified.

Absari then also mentioned that ACST has no affiliation with both MMN and ADHI. (KR/ZH)