Fauzi readies Rp 203b to bail out monorail project

JAKARTA: Governor Fauzi Bowo said Tuesday that the administration has readied Rp 203 billion (US$22.3 million) to take over monorail project from its developer PT Jakarta Monorail.

Detik.com reported that Fauzi said the amount of fund was the result of an auditing process from the State Development Finance Comptroller (BPKP) on the value of project's initial construction.

Initially, the company priced the project at Rp 600 billion. - JP