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(From Business Times (Malaysia))
Byline: Goh Thean Eu
THE country's biggest highway and toll company PLUS Expressways Bhd plans to buy up to 55 per cent stake in an Indonesian company that has a 35-year toll highway concession in West Java.
It is learnt that the highway project may be worth up to RM2.5 billion.
PLUS yesterday signed a heads of agreement with PT Baskhara Utama Sedaya (BUS), the holding company of PT Lintas Marga Sedaya (LMS). LMS holds the concession to design, develop, build, manage and operate the 116km Cikampek-Palimanan expressway project, PLUS told Bursa Malaysia yesterday. The heads of agreement records PLUS' …