KAI Boss: Jabodebek LRT Project Cost Inflates to Rp32.5tn

7 July 2022 11:45 WIB

TEMPO.CO, JakartaDidiek Hartantyo, the president director of Indonesia's state railway company PT KAI, said that the cost of the Jabodebek (Jakarta, Bogor, Depok, Bekasi) Light Rail Transit (LRT) project has ballooned. The cost, initially pegged at Rp29.9 trillion, has now risen to Rp32.5 trillion.

In a hearing with the House of Representatives' Commission V's on Wednesday, July 6, Didik said that the project has been "odd" from the start, because the KAI must bear the cost of development of facilities and infrastructure.

"This project is a bit strange [because] the owner is the Transportation Ministry, and the contractor is Adhi Karya, and Perpres (Presidential Regulation) no.49/2017 stated PT KAI as the payer," Didiek said. "When you look at the anatomy of Presidential Decree 49, this is actually not normal."

He said that the increasing cost of the LRT, which is targeted to start operating by year-end at the soonest, is very burdensome for PT KAI. Even so, the company remains committed to completing the work included in the national strategic project.

To finance the project, KAI received a State Equity Participation (PMN) of around Rp10 trillion. The remaining Rp20 trillion will be paid through syndicated loans from 15 banks paid by KAI with government guarantees.

"The Rp20 trillion is our own debt. How are we supposed to pay it back if not supported by PSO (public service obligation) for infrastructure (LRT) acquisition?" he lamented. "This design is wrong from the start."

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