Global law firm Herbert Smith Freehills and its Indonesian association firm Hiswara Bunjamin & Tandjung have advised the Indonesia Investment Authority, the country’s sovereign wealth fund, on its near $1.3 billion investment in two sections of the Trans Sumatera Toll Road.

Bakauheni – Terbanggi Besar, one of the longest toll road sections in Indonesia, and Medan – Binjai are key infrastructure assets that will accelerate socio-economic development in Sumatera and the surrounding areas through a logistic network development plan, INA said in a statement.

The deal is the tenth Indonesian toll road transaction on which Herbert Smith Freehills and Hiswara Bunjamin & Tandjung have advised in the last three years, HSF said in a statement.

The two firms are also advising on other infrastructure projects, including the DP World and INA alliance on their investment in the Belawan New International Container Terminal, HSF said.

INA is mandated to increase investment to support the country’s sustainable development and build wealth for future generations.

The combined team was led by HSF partner Matthew Goerke and Hiswara Bunjamin partners Dhani Maulana M Pattinggi and Tjahjadi Bunjamin.