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Train manufacturer PT INKA signs Rp 4t loan to build LRT cars
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Work on the Greater Jakarta light rail transit (LRT) project continues on Jl. Rasuna Said in South Jakarta on Nov. 7. (Antara/Puspa Perwitasari)
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tate-owned train manufacturer PT Industri Kereta Api (INKA) signed on Wednesday a syndicated loan agreement totaling Rp 4.05 trillion (US$298.8 million) to build 186 train cars to be operated along the Greater Jakarta light rapid transit (LRT Jabodetabek) network.
The company, the only train car manufacturer in Southeast Asia, obtained the loan, which has a 30-month tenure, from Bank Negara Indonesia (BNI), Bank Sumitomo Indonesia and state-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI).
INKA finance director and acting president director Mohamad Nur Sodiq said during the loan-signing ceremony that the loan was part of Rp 5.2 trillion that was needed by the company to construct train cars as well as for their maintenance and service over the next five years.
Read also: Government to subsidize LRT fares for 12 years
“This is our second LRT project after the first one, which is the LRT project in Palembang, South Sumatra,” Sodiq told reporters.
Sodiq voiced hope that the loan would be disbursed in January so that his company could meet the April 2019 deadline for its LRT contract.
The Greater Jakarta LRT will run from Bogor through Bekasi, Cawang and Kuningan to Sudirman Station. (bbn)
