The Indonesia Investment Authority (INA), the sovereign wealth fund, has signed two agreements worth USD2.72 billion for investments in toll road development in Sumatra and Java.

The first heads of agreement (HoA) was signed with Hutama Karya to invest in three phases of the Trans Sumatra toll road development project. The agency has also signed an agreement with Waskita Toll Road for investments in two phases of the Trans Java toll road project.

The agreements are a part of INA’s toll road fund worth USD3.75 billion launched of in 2021, with support from Caisse de dépôt et placement du Québec (CDPQ), APG Asset Management (APG) and a unit of the Abu Dhabi Investment Authority (ADIA).

The INA is also exploring the option to invest in seaports, geothermal and healthcare projects during 2022.