Gudang Garam plans to construct a toll road in East Java, reports The Jakarta Globe
In a public filing on Tuesday, 13 Feb 2024, the company said it had recently established a subsidiary, Surya Sapta Agung Tol, to construct a toll road connecting Kediri and Tulungagung, with an initial capital of IDR3.5 trillion ($223.6 million).
Gudang Garam owns 99.9 of Surya Sapta, with Suryaduta Investama owning the remaining 0.1 percent. Suryaduta is a majority shareholder in Gudang Garam, controlling a 69.29 percent stake in the cigarette company.
Both Gudang Garam and Surya Sapta are based in Kediri, approximately 150 kilometers west of Surabaya.
The toll road is Gudang Garam’s second infrastructure project, following the recent completion of a small airport in Kediri. Although Dhoho Kediri Airport opened to the public earlier this month, it is not yet fully operational.