“PT Cibitung Tanjung Priok Port (“CTP”) is the last toll company acquired by Waskita Toll Road in May 2017. Previously, the CTP name was PT MTD CTP Expressway (“MTDX”) established on 13 September 2006 as a joint venture between MTD Capital Bhd (“MTDC”) and PT Nusacipta Etika Pratama. MTDX won a concession for Cibitung – Tol Cilincing (“JTCC”) and entered into a concession agreement dated January 27, 2007.
In 2015, PT Pelabuhan Indonesia II (Persero) through PT Akses Pelabuhan Indonesia, has acquired 45.00% of MTDX shares owned by previous shareholders. Company merged later in May 2017 and acquired 55.00% of MTDC’s shares and made Company its current majority shareholder.”