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Indonesian SOEs Establish Partnerships with Philippines

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Editor

29 May 2018 15:00 WIB

LRT (Light Rail Transit) illustration. Image: TEMPO/Indra Fauzi

TEMPO.CO, Jakarta - PT Industri Kereta Api (INKA Ltd.) and the Philippines National Railways (PNR) signed agreed on the sales and purchases of railway goods. The two companies signed the sales and purchase deal in Manila on Monday, May 28, witnessed by Indonesia's SOE Minister Rini Soemarno.

INKA will sell four sets of Diesel Multiple Unit worth US$21.4 million to the Philippines National Railways (PNR) and buy three locomotives as well as 15 passenger trains worth US$26.1 million. The shipment will be done in stages in January and May of 2020.

On January 22 this year, INKA and PNR also signed a contract for the sales and purchase of two sets of Diesel Multiple Units worth US$9.7million.

"The SOE Ministry will continue to support INKA in expanding its business," Rini Soemarno said in a written statement.

Rini also witnessed the signing of MoUs between Wijaya Karya (IDX: WIKA) and Citra Manila Consortium, which comprises of Citra Marga Nusaphala Persada, Citra Persada Infrastruktur, and CLGP Philipine Holding Inc.

The companies agreed to work on an 18-kiloneter elevated toal road connecting Metro Manila and the Taguig area from January 2019 until December 2022. The US$1.25 billion project is funded by the Filipina government.

M YUSUF MANURUNG




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