PT Jasa Marga plans to sell its stake in two toll road concessions by June 2017 and expects to get around Rp 1.4 trillion from the sale. The company plans to sell 15 per cent in the Semarang-Solo toll road concession, in which it holds a stake through PT Trans Marga Jateng. The toll road operator holds around 74 per cent stake in the concession. Jasa Marga also plans to sell a 19 per cent stake in the Jakarta Outer Ring Road, which is operated by PT Jakarta Lingkar Barat Satu. Jasa Marga is currently in the process of seeking approval from commissioners. It will use the money from asset securitisation to acquire more toll road concessions. The company plans to acquire 800 km toll road concessions in 2017-19, targeting total toll road concessions of 2,000 km in 2019. It has bid for the 170 km Probolinggo-Banyuwangi and 20 km Semarang-Demak toll road projects.
