Bali Announces Investor for US$20 Billion Bali Subway Project
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25 July 2024 07:57 WIB
TEMPO.CO, Denpasar, Bali - The Bali provincial government announced the investor or partner for the Bali Subway project development, on Wednesday, July 24, 2024, with a total investment value of US$20 billion, or around Rp325 trillion.
Ari Askhara, President Director of PT Sarana Bali Dwipa Jaya (SBDJ), which manages the project, stated that his side and the investor will build all the underground rail infrastructure in stages.
"After assessment with the consultant, we selected a qualified investor, namely PT Bumi Indah Prima, as the main investor that can coordinate other investors to join in," he remarked.
The Bali Subway project development will be divided into four phases. The first and second phases are targeted to be completed in 2031, with an investment of US$10.8 billion, or around Rp175 trillion.
The first phase is the route of the Ngurah Rai Airport-Central Park-Seminyak-Canggu, the second is Ngurah Rai Airport-Nusa Dua, the third is to Sanur, and the fourth will work on the route to Ubud.
Askhara, the former President Director of Garuda Indonesia, explained that a non-conventional approach was followed to find investors. Candidate investors were requested to submit their vision, business plan, project structure, and so on before being determined to qualify.
Five investors initially expressed interest in investing in the project. After consulting with consultants, PT SBDJ appointed an investor who was ready to invest without a guarantee of state funding.
Meanwhile, Acting Governor of Bali, Sang Made Mahendra Jaya, reminded PT SBDJ to pay attention to the local community.
He expressed hope that the Bali Subway project development would absorb as many local workers as possible.
"The (subway) tickets must not be expensive for the local Balinese. It must be subsidized by the company," Jaya emphasized.
ANTARA
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