TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Bank Mandiri preparing Rp 4t for LRT project
Change Size
Workers construct metal frames for the light rail transit (LRT) project in Makasar subdistrict, East Jakarta. (JP/P.J.LEO)
S
tate-owned lender Bank Mandiri has prepared Rp 4 trillion (US$300 million) in loans to finance the light rail transit (LRT) project, connecting Jakarta and the three West Java cities of Bogor, Depok and Bekasi.
Other state lenders that will take part in financing the transportation project are Bank Negara Indonesia (BNI), Bank Rakyat Indonesia (BRI) and financial institution PT Sarana Multi Infrastruktur (SMI).
“Each bank would contribute between Rp 2 trillion and Rp 5 trillion. We [Bank Mandiri] have prepared Rp 4 trillion,” said Bank Mandiri president director Kartika Wirjoatmodjo as reported by tribunnews.com on Sunday, adding that the private lenders were also invited to take part in the project.
(Read also: LRT Jakarta progress reaches 15 percent: Developer)
Syndicated loans from the banks are expected to reach Rp 18 trillion from the total LRT project cost of Rp 23.3 trillion. The state budget will cover the remaining costs.
Kartika, however, said the total cost of the project was not final. The latest calculations show that the cost could reach up to Rp 27 trillion.
Interest rates of the loan are still being negotiated, he said. (bbn)
