PT Adi Sarana Armada (ASSA) is a leading transportation and logistics service provider in Indonesia, listed on the Indonesia Stock Exchange. ASSA provides transportation solutions that include longer-term corporate car rentals and vehicle disposal (through the largest vehicle auction platform in Indonesia), as well as services for fleet management, logistics, and driver management. ASSA is a majority-owned subsidiary of the Triputra Group, a well-established local business conglomerate.

The IFC investment of up to IDR 450 billion (~US$31.4 million) will provide growth capital for the scale-up of ASSA’s express logistics subsidiary and overall expansion of ASSA’s logistics business.

IFC’s investment is in PT Adi Sarana Armada Tbk, headquartered in Jakarta, Indonesia, with operations across Indonesia.

 This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability. The E&S risks and impacts associated with this project are limited, site-specific, and can be readily addressed through generally accepted mitigation measures described in this document and the attached Environmental and Social Action Plan (ESAP).

Key E&S issues associated with this investment are:  (i) effectiveness of ASSA management competency and capacity to implement EHS/labor management systems; (ii) emergency preparedness and response plan, especially Life and Fire Safety (L&FS) for buildings with public access; (iii) hazards posed to the public for premises that can be accessed by public; (iv) resource (energy/water) efficiency and solid and hazardous waste management; (v) community safety / traffic safety (and management of risks associated with a large fleet and a large number of drivers; and, (vi) pollution prevention and control associated with the vehicle fleet operations.