Jakarta LRTs investment value US$25 billion

Jakarta (ANTARA News) - Jakartas Vice Governor Sandiaga Salahuddin Uno stated that the city administration was ready to build a world-class Light Rail Transit (LRT) through a cooperation with private sectors with an investment value of US$25 billion.

"We have a group of Ratu Prabu Energi, one of the big business in Indonesia that brought a settled concept to build more than 200 kilometers additional LRT in Jakarta and surrounding areas," Sandiaga said here on Thursday.

The Vice Governor expected that the total investment on this project was about US$25 billion and it would be built in five years from 2020 to 2025. The total funds raised is about Rp320 trillion (US$ 23,8 billion).

"This is a full business to business concept with no government support in providing guarantees and involves Korean, Chinese and Japanese investors. And we are very happy because this is a very concrete proposal to solve congestion problem in the capital city," Sandiaga said.

He said PT Ratu Prabu Energi has coordinated with BPTJ (the Transportation Management Agency of Jakarta) and the Ministry of Transportation. The project plan will continue to be developed and a comprehensive study will be conducted during the project.

"This project will ensure that Jakarta will have a rail-based transport that is similar to major cities abroad," Sandiaga added.

Source: ANTARA News

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