TheJakartaPost
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The arrangement will allow investors to quickly get a return on their investment, the Bali administration has said, adding that this in line with the fact that the project has been fully funded by the private sector from its construction phase.
City-owned developer Jakpro says several foreign investors from across the globe have expressed interest in financing the Phase 1D, 2A and 2B expansion projects of the Jakarta LRT totaling an estimated Rp 24.06 trillion (US$1.48 billion).
According to the Transportation ministry, Phase 1A of the Bali-led project involves building a 6.04-kilometer track and five stations along a route connecting Denpasar International Airport and Kuta's famous Jl. Sunset Road.
For the sake of social justice, the imposition of property tax (PBB) must consider the variability in the distances between assets and stations, the mode of public transportation, and the economic class of the community.
West Java acting governor Bey Triadi Machmudin confirmed that the Finance Ministry has approved the construction of the Greater Bandung Light Rail Transit (LRT) project after a meeting between the two parties on Monday.
People living in the city and its surroundings will likely remain reliant on private vehicles, experts say, citing an urgent need for a drastic improvement of the public transportation system.
