Vincent Fabian Thomas (The Jakarta Post) PREMIUM Jakarta ● Thu, November 24, 2022 State-owned railway company PT Kereta Api Indonesia (KAI) will get Rp 3.2 trillion (US$204.1 million) in a state capital injection next month to address the cost overrun issue in the Jakarta-Bandung high-speed railway project with the aim of completing it in the first half of next year. Deputy State-Owned Enterprises (SOEs) Minister Kartika Wirjoatmodjo told lawmakers on Wednesday that the injection would fill up the equity of the consortium in charge of the high-speed railway project, which has been depleted multiple times due to cost overrun, including after an injection of Rp 4.3 trillion in December last year. The government plans to plug 25 percent of the funding gap with equity from the consortium and 75 percent with new loans from China Development Bank (CDB). It will be supported by a financing guarantee from the Indonesian side, details of which are being discussed with the Finance Ministry, according to Kartika. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital newspaper No advertisements, no interruptions Privileged access to our events and programs Subscription to our… Read full this story
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