Wealth fund signs toll road investment deals

Economic woes: A worker pulls a trolley filled with goods along a street in Jakarta. A pick-up in demand during the Ramadan festive period is expected to push the country’s inflation higher. — AFP

JAKARTA: Indonesia’s sovereign wealth fund yesterday signed two agreements to invest in toll roads on the islands of Sumatra and Java worth more than 39 trillion rupiah (US$2.72bil or RM11.4bil), president Joko Widodo said.

The Indonesia Investment Authority (INA) signed a heads of agreement with state construction firm Hutama Karya to invest in three parts of the Trans Sumatra toll road, said finance minister Sri Mulyani Indrawati, who also attended the signing ceremony in Jakarta.