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S. Korea Ready to Fund Phase 2 of Jakarta LRT Project

Translator

Editor

9 November 2017 19:40 WIB

A number of vehicles crossing the construction of the Light Rail Transit (LRT) in Mt Haryono, Jakarta, Oct. 23, 2017. Tempo/Fakhri Hermansyah

TEMPO.CO, Jakarta - Korea Rail Network Authority (KRNA), a state company from South Korea, is ready to fund the second phase of the Jakarta LRT (light rail transit) project. Phase 2 covers the Velodrome–Dukuh Atas corridor with a length of about 9 km.

Jakarta Propertindo (JakPro) president director Satya Heragandhi said the funding from KRNA is expected to lessen the Jakarta regional budget's burden.

Read: Adhi Karya Earmarks Rp7tn for Jakarta LRT Project

"Korea is committed to helping with financing worth US$500 million. For phase 2, JakPro will review a public-private partnership (PPP) scheme with KRNA partners," he said in a press release, Thursday, November 9. 

Satya said the partnership is a follow up to a MoU signed with KRNA in 2016. KRNA assists the feasibility study for the completion of all LRT corridors in Jakarta and provides free education and training for the operation and maintenance of the LRT's infrastructure and facilities.

BISNIS

Transportation


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