Japan Grants Loan for Second Phase of MRT Jakarta Route Project

TEMPO.CO, Jakarta - Japan International Cooperation Agency (JICA) had inked the Loan Agreement of Official Development Assistance (ODA) with the Indonesian government for the second phase of the railway construction of mass rapid transportation (MRT) Jakarta on Wednesday, Oct. 24.

The loan amounted to 70.210 billion Yen or Rp9.4 trillion. “The loan term set for 40 years, including the grace period of 12 years since the deal signing,” said Tubagus Hikmatullah, Corporate Secretary Division Head MRT Jakarta, in a written statement, Thursday, Oct. 25.

Tubagus said the loan agreement signing was the first of the slice loan from the total loan commitment of 208.132 billion Yen or Rp25 trillion.

Tubagus said the second phase of MRT Jakarta project would commence in December 2018 and targetted to be operational by 2024.

As of date, the project completion of the 16-kilometer route of MRT Jakarta has reached 96 percent. The project that begun since October 2013 was expected to start operating in March 2019.

In the first phase, a total of 13 MRT stations would be operated, from Lebak Bulus, South Jakarta, to HI Roundabout, Central Jakarta.

He added the loan contract of the second phase was signed by Director General of Budget Financing and Risk Management Luky Alfirman and Yamanaka Shinichi, Chief Representative of JICA Indonesia, in the Finance Ministry building, Central Jakarta.

Before the signing session, Tubagus mentioned, the signing of Exchange of Notes had already taken place, presenting Foreign Ministry’s Director General for Asia, Pacific, and Africa Desra Percaya and Japanese Ambassador in Indonesia Masafumi Ishii in the Foreign Ministry building, Central Jakarta.

M JULNIS FIRMANSYAH