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City to pass law on MRT project
JAKARTA: The city council will approve a draft ordinance on the Mass Rapid Transit (MRT) system next week, deputy speaker Maringan Pangaribuan said Monday
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JAKARTA: The city council will approve a draft ordinance on the Mass Rapid Transit (MRT) system next week, deputy speaker Maringan Pangaribuan said Monday.
"Future company PT Jakarta MRT will be able to use part of the loan money provided by the Japan Bank for International Cooperation after we approve the draft ordinance," he said.
The ordinance will regulate the organizational structure of the future city-owned firm. The company will lead the MRT project and will operate the system.
According to Jakarta MRT's working team tasked with organizing the future company, it will need Rp 113 billion (US$12.27 million).
"The money will be used for initial capital, finishing work on MRT lanes, land acquisition and the recruitment of a board of directors, as well as the hiring of engineering consultants," said team coordinator Eddi Santosa.
Of the Rp 113 billion, as much as Rp 49.5 billion will come from the Jakarta administration through the 2008 revised city budget and Rp 500 million will come from city traditional market operator PD Pasar Jaya, he said.
The remaining Rp 63 billion will come from the Japanese bank loan, he said.
The MRT development is projected to absorb more than Rp 8.3 trillion in investments. -- JP
