Japan’s Obayashi to acquire stake in Jakarta toll road operator
Wednesday, May 13 2026 - 02:48 PM WIB
By Romel S. Gurky
Japanese construction company Obayashi Corporation said on Wednesday it will enter Indonesia’s toll road concession business by acquiring a stake in Jakarta-based toll operator PT JTD Jaya Pratama (JTDJP).
The Tokyo-based company said it will establish a local subsidiary, PT Obayashi Concession Indonesia, to acquire an initial 12.5% stake in JTDJP, which holds concession rights for an approximately 31-kilometer toll road crossing central Jakarta.
Obayashi said the investment is part of its strategy to expand stable revenue sources beyond its domestic construction business through infrastructure operations, including public-private partnerships and concession projects.
JTDJP, a subsidiary of PT Jakarta Tollroad Development, operates a toll road project valued at around JPY213 billion ($1.4 billion). The road is expected to help ease chronic traffic congestion in Jakarta once the entire route is completed.
Read also: Indonesia, Japan cooperate on waste management development
Although sections of the toll road are already operational, Obayashi said demand is expected to increase after land acquisition by the Indonesian government is completed and the full route becomes operational.
The company said its ownership in JTDJP is scheduled to rise to 48.8% after the completion of the land acquisition process, which is targeted for December 2027.
Obayashi said the acquisition will be conducted through PT Obayashi Concession Indonesia (OCI), a new subsidiary jointly established with PT Jaya Obayashi, a long-standing joint venture between Obayashi and PT Pembangunan Jaya.
OCI is scheduled to have initial capital of Rp770 billion ($46.7 million), which will later be increased to Rp5.2 trillion upon completion of the land acquisition process.
Separately, Obayashi said its board of directors approved the share acquisition and the appointment of directors to JTDJP at a meeting held on May 13, making the Indonesian toll road operator an affiliate of the company.
Editing by Reiner Simanjuntak