Nusantara Infrastructure (META) allocates Rp150 billion capex in 2025

This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.

Kontan Online - Nusantara Infrastructure (META) alokasikan capex Rp150 miliar di tahun 2025

13 January 2025

By Pulina Nityakanti

Kontan.co.id – Jakarta. PT Nusantara Infrastructure Tbk (META) plans to allocate approximately Rp150 billion in capital expenditure (capex) for 2025.

According to META's Head of Corporate Communication & CSR, Indah D.P. Pertiwi, a significant portion of the capex will be dedicated to the Elevated Jakarta Outer Ring Road (JORR) project, which has an investment value of Rp21 trillion.

“Some will be allocated for acquiring fixed assets for operations and other infrastructure developments,” he told Kontan on Wednesday (8/1).

Indah mentioned that the capex for 2024 has not been fully absorbed yet. Several projects were adjusted for 2025 to ensure more optimal implementation.

Unfortunately, META is reluctant to mention their capex amount in 2024.

“Additionally, the toll road sector is no longer consolidated under Nusantara Infrastructure (NI) as of last year,” he revealed.

During the 2024/2025 Christmas and New Year holiday period, PT Nusantara Infrastructure Tbk (META) observed an uptick in the daily average traffic on intercity toll roads.

“For instance, during the Christmas and New Year period, the MBZ Elevated Toll Road experienced a notable increase in average daily traffic, with class 1 vehicles seeing a rise of approximately 28.27% compared to normal conditions,” he stated.

Moreover, META plans to continue its voluntary delisting process from the Indonesia Stock Exchange (IDX) in 2025. This process began following approval from the general meeting of independent shareholders on 18 December 2023.

Initially, META aimed to complete its delisting process from the IDX in 2024. However, as indicated on the IDX's website on 4 December 2024, META announced an extension of the voluntary tender offer period. 

The extended voluntary tender offer period for delisting and transitioning to a closed company runs from 6 December 2024 to 5 March 2025.

Payment for participants who tendered their shares during the extended voluntary tender offer period is scheduled to be disbursed on 17 March 2025.

“The ongoing extension reflects that the number of shareholders has not yet met the condition required to go private, which is having fewer than 50 shareholders,” he explained.

By 4 December 2024, META had been engaged in the voluntary tender offer process for 86 days. During this period, the company successfully acquired 3.79 billion shares out of the 4.10 billion shares targeted in the offer

The tender offer, conducted by PT Metro Pacific Tollways Indonesia Services (MPTIS), META’s controlling entity, is set at Rp250 per share.

The offer price of Rp250 per share represents a 34% premium over the highest average price of META's daily sales on the IDX in the 90 days preceding the announcement of the plan to go private, which was Rp187 per share.

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