High speed railway construction accelerated as CDB disburses loanl State-owned construction company PT Wijaya Karya (Wika) has said it will accelerate the construction of the Jakarta-Bandung high speed railway project after the China Development Bank (CDB) disbursed US$170 million on Friday, the first phase of the loan for the project.
Wika is a member of the High Speed Railway Contractor Consortium (HSRCC) assigned to construct the $5.9 billion project.
“Wika will optimize the funds to build trust among the stakeholders of Indonesia’s future transportation project,” Wika president director Tumiyana said, as reported by kontan.co.id on Wednesday.
As a member of the consortium, Wika will be responsible for the structural, architectural, landscape, mechanical and electrical works of the 142.5 kilometer railway project that will include four stations – one in Jakarta (Halim) and three in West Java – Karawang, Walini and Tegalluar.
Wiki holds a 38 percent share in state-owned enterprises (SOEs) consortium PT Pilar Sinergi BUMN Indonesia (PSBI).
The other members are railway operator PT Kereta Api Indonesia (KAI) with 25 percent, plantation company PT Perkebunan Nusantara (PTPN) VIII, 25 percent, and toll road operator PT Jasa Marga, 12 percent.
PSBI and Beijing Yawan HSR Co. Ltd hold a 60 percent and a 40 percent share in PT Kereta Cepat Indonesia China (KCIC), respectively.
The train is designed to travel at 350 kilometers per hour, meaning a trip between Jakarta and Bandung would take only 40 minutes.
President Joko “Jokowi” Widodo attended the groundbreaking ceremony of the project in Cikalong Wetan, West Java, on Jan. 21, 2016. High speed railway construction accelerated as CDB disburses loan (bbn, The Jakarta Post)