[ET Net News Agency, 2 October 2019] Road King Infrastructure Limited (01098) said its
subsidiary Kings Key has agreed to purchase 40% equity interests in JSN and JNKK in the
up-front consideration of Rp1,320 billion and in the consideration of Rp562 billion,
respectively.
JSN is principally engaged in financing, technical planning, construction, operation and
maintenance of toll road, and it holds the concession rights of the Solo-Ngawi toll road,
which is part of the Transjava toll expressway network, connecting Central and East Java
of Indonesia. The toll road has a total length of 90 km. Total concession period of such
toll road is 40 years up to 2056. The toll road has been completed and operating since
April 2018.
JNKK is principally engaged in financing, technical planning, construction, operation
and maintenance of toll road, and it holds the concession rights of the Ngawi-Kertosono
toll road, which is also part of the Transjava toll expressway network. Total concession
period of the toll road is 50 years up to 2066. The toll road has a total length of 115
km. The section from Ngawi to Wilangan has been completed while the section from Wilangan
to Kertosono is substantially completed as at 31 May 2019 and the section from Kertosono
to Kediri is awaiting for approval for construction from the government of Indonesia. The
toll road has been operating since April 2018. (RC)