New joint venture to construct new Indonesia highway

A new joint venture team will carry out the construction of a major new highway project in Indonesia. The project will see the construction of the Serpong Balaraja highway in Tangerang Regency. Construction is due to commence in July 2016 with the work expected to cost over US$452.5 million. The partnership will be headed by local firm Bumi Serpong Damai (BSD), with a 50% stake. Its partners will be Transindo Karya Investama and Astratel Nusantara, both with 25% shares in the partnership.