State-owned train manufacturer PT INKA (Industri Kereta Api) signed on Wednesday a syndicated loan agreement totaling Rp4.05 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 Rp5.2 trillion that was needed by the company to construct train cars as well as for their maintenance and service over the next five years.
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, Rachmadea Aisyah, The Jakarta Post)