Indonesian Eximbank Helps Finance Railway Procurement by INKA
28 March 2015 17:00 WIB
TEMPO.CO, Jakarta - Indonesian Export Finance Agency (Indonesia Eximbank) agreed to provide financial support of US$48.7 million for the state-owned railway manufacturer PT Industri Kereta Api (INKA) to carry out its contract for the procurement of railway coaches, as reported by Antara News.
Eximbank secretary Sunu Widi Purwoko said here on Friday the loan facility will be used by INKA for the procurement of 150 units of passenger coach ordered by the Bangladesh Railway.
In 2014, INKA took part in an international procurement tender for the project of Bangladesh Railway with bidders including from India and China respectively Rites Ltd and CSR Nanjing Puzhen Co Ltd.
INKA was declared as the winner of the auction for the procurement of 100 MG (Meter Gauge) and 50 BG (Broad Gauge) passenger coaches.
The contract was signed on 27 November 2014 valued at US$72.4 million.
INKA, which is based in Madiun, East Java , has carried out a number of railway coach procurement projects abroad.
Among the projects were those of Freight Wagon of Malaysia, Locomotive-GE Lokindo of the Philippines, Ballast Hopper.
Wagon of Thailand, Flat Wagon of Singapore), Passenger Coach of Bangladesh, Blizzard Center Sills and Container Wagon Bodies of Australia.
Earlier, INKA said it had a target to have projects valued at Rp1.44 trillion in 2015 and 48 percent of the projects are related to exports.
Indonesia Eximbank is ready to provide financial support for export business of INKA, Sunu said.
The agency is committed to provide financial support for export related infrastructure projects, he added.
ANTARA NEWS
