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Government to decide on LRT financing scheme on Friday
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Workers work on the LRT project in Makasar subdistrict in East Jakarta on Feb. 7. (JP/P.J.LEO)
T
he government is finalizing the financing scheme for the light rapid transit (LRT) project in Greater Jakarta, Transportation Minister Budi Karya Sumadi said on Friday.
"We already know [the financing scheme], [but] I don’t yet know the amount [of the final valuation of the project]," he said.
State-owned railway operator Kereta Api Indonesia (KAI) could be the main investor in the project, an idea floated over the last few weeks, Budi added.
(Read also:Jokowi monitors progress of Asian Games projects)
The government might also fund the project through the state budget in the form of a capital injection and public service obligation (PSO), the minister said, adding that there would also be government guarantees for the estimated Rp 23.3 trillion (US$1.7 billion) project.
A final decision will be made in a meeting at the Office of the Coordinating Maritime Affairs Minister on Friday afternoon. (bbn)
