President Jokowi Inaugurates 116KM Cikopo-Palimanan Toll Road
Indonesian President Joko Widodo (Jokowi) inaugurated the Cikopo-Palimanan toll road on Saturday, June 13, 2015. The long-awaited 116.75 kilometer toll road is the longest toll road ever built in Indonesia and is expected to immediately create exponential economic and social benefits for the country. The project is also one of the largest construction ever built jointly between Indonesian and Malaysian companies.
The Cikopo-Palimanan toll road is expected to address decade long problem of poor and inefficient logistical backlog that hurt economic activity in Java.
The new Cikopo-Palimanan toll road crosses five regencies namely Purwakarta, Subang, Indramayu, Majalengka, and Cirebon, which make up Indonesia’s most populated province of West Java. It also connects the Trans Java toll road system allowing fast lane transportation for the Island of Java where more than 65 percent of Indonesia’s 240 million live and work.
Completion and inauguration of the toll road is timely as Indonesians are coming near the homecoming season in less than four weeks. By then most Indonesians will head to their origin villages to celebrate Idul Fitri with families back home. The Island of Java houses the largest concentration of Indonesia’s homecoming workers.
Lintas Marga Sedaya (LMS) as the concession holder for the Cikopo-Palimanan toll road for 35 years, is a toll road business entity whose shares are controlled by Baskhara Utama Sedaya (45 percent) a national investment company; and PLUS Expressways International Berhad (55 percent), a leading toll road company in Malaysia.
PT Saratoga Investama Sedaya Tbk invested in Lintas Marga Sedaya through Baskhara Utama Sedaya with an effective ownership of 18.00%.