TEMPO.CO, Jakarta - State-owned construction company PT Adhi Karya Tbk needs roughly Rp7 trillion until the end of 2017 for light rail transit (LRT) project.
Adhi Karya president director Budiharto said that the company is aiming to complete the construction of LRT routes covering Jakarta-Bogor-Depok-Bekasi (Greater Jakarta, locally known as Jabodetabek) by 35-40 percent in the first phase of construction until year-end, from the starting point at Bogor’s Cibubur to downtown Jakarta.
The company had planned to issue bonds worth Rp2 trillion in the first half of 2017. The shortfall will be covered by state-owned bank loans and the state budget (APBN).
Adhi Karya had raised Rp2.5 trillion through Rp1.5 trillion rights issue and the company’s cash reserves for the first phase of construction of Jabodetabek LRT routes.
The government has commissioned Adhi Karya to work on the LRT project, which includes construction of three routes: 14.5-km long Cibubur-Cawang route, which is 17 percent complete, 17.1-km long East Bekasi-Cawang route, which is 12 percent complete and 10.5-km long Cawang-Dukuh Atas route, which is 2 percent complete.