State-owned toll road operator Jasa Marga (JSMR) will invest up to Rp6.6 trillion for the Solo-Yogyakarta International Airport–Kulon Progo toll road project in Yogyakarta and Central Java. The toll road has a length of 96.57 kilometers (km) with a total investment of Rp26.6 trillion with a concession period of 40 years.
Corporate finance group head of the operator, Eka Setya Adrianto, said the the issuer has a 25% stake in PT Jogjasolo Marga Makmur (JMM). The joint venture company is a consortium holds by PT Mulia Turangga–PT Gama Group 51%, Jasa Marga 25%, and Adhi Karya (ADHI) 24%. The toll road is targeting to be operated in 2023 and will be fully operational in 2024. The projects are divided into three sections, Kartasura–Purwomartani (42.37 km), Purwomartani–Lime (23.42 km), and Lime–Purworejo (30.77 km).
