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Jakarta Post

LRT project needs Rp 7 trillion this year

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, January 9, 2017   /  12:01 pm
LRT project needs Rp 7 trillion this year President Joko "Jokowi" Widodo (center), SOE Minister Rini Soemarno (left) and Jakarta Governor Basuki "Ahok" Tjahaja Purnama inspect progress on the light rail transit (LRT) project in Jakarta on Oct. 30, 2016. (Antara/Widodo S. Jusuf)

State-owned construction company PT Adhi Karya needs around Rp 7 trillion (US$523.36 million) in funding to achieve its development target on the light rail transit (LRT) project in 2017.

Adhi Karya CEO Budiharto said the funds were expected to come from bond sales, loans from state-owned banks and the state budget.

“Rp7 trillion is needed this year. Rp 2 trillion is expected from bond sales, while Rp 5 trillion will come from the loan of a state-owned bank syndicate and the state budget,” said Budiharto, as reported by tempo.co on Monday.

(Read also: Jakarta preps alternative routes during LRT construction)

The company had so far spent Rp 2.5 trillion on the LRT project, he added.

Adhi Karya estimates that the total cost of the Jakarta-Bogor-Depok-Bekasi LRT project will reach Rp 23 trillion, but the company is still waiting for a consulting company to calculate the final cost figure.

Transportation Minister Budi Karya Sumadi said his ministry was also waiting for the calculation of the project’s contract value.

“The value of the contract will be decided by a consultant. We do not know whether we can negotiate or not, but we will use the figure from the consultant,” he said, adding that the Development Finance Comptroller (BPKP) would evaluate any disbursements for the project.

Adhi Karya’s contribution to the LRT project includes a 14.5-kilometer stretch from Cibubur to Cawang (17 percent), 17.5 km from East Bekasi to Cawang (12 percent) and 10.5 km from Cawang to Dukuh Atas (2 percent). (bbn)

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