Prototype MRT Jakarta - Photo by PT MRT Jakarta

JAKARTA (TheInsiderStories) – The Japanese government provided a loan of 70.21 billion Yen (Rp9.4 trillion) for the Phase II’s Mass Rapid Transit (MRT) project with an interest of 0.1 percent and a 40-year tenor, said the ambassador today. In 2015, Japan helped the project with loan 1.92 billion Yen for engineering services MRT Jakarta East-West Line Project Phase I and construction of MRT Jakarta Phase I Stage 2 worth 75.22 million Yen.

The loan was signed by the Japanese ambassador to Indonesia Masafumi Ishii and the Indonesian Ministry of Foreign Affairs Director General for Asia, Pacific and Africa, Desra Percaya, today (10/24). This agreement was the initial stage before the loan was signed by Japan International Cooperation Agency (JICA) and Ministry of Finance.

Last February, government has released MRT Jakarta map trace of the second phase railway to connect Hotel Indonesia circle to Kampung Bandan Railway Station located on the border of North and Central Jakarta.

President Director of MRT Jakarta William Sabandar explained on Feb. 27, the MRT phase-two trace’s permit was signed by former Jakarta Governor Djarot Saiful Hidayat last year. The second phase’s project has length of 7.8 kilometers that will pass through eight stations.

One station will be an at-grade platform in Kampung Bandan and seven other stations will be built underground. Kampung Bandan will act as a depot and a station.

MRT Jakarta is currently working hard to finalize the construction of MRT corridor I Lebak Bulus in South Jakarta to Hotel Indonesia Circle before it shifts the focus on the second phase construction. Minister of Transportation Budi Karya Sumadi has promised the MRT project Phase I will be operational by early this year, but until now not operating at all.

‘For the East-West projects we asked for more detailed requirements of the DOT (Development of Transit), how local contractors are to be involved and how they can enter,’ Sumadi said.

MRT Jakarta has declared the 1st and 2nd rail-based mass transport are ready to be shipped from Japan to Jakarta. The plan is the train will be aboard on March 28 from Toyokawa Plant. MRT Jakarta has 16 sets of train and consisting of six wagons.

“We have already conducted a review and witnessed the testing of the trains at its factory manufacture, Toyokawa Plant owned by Nippon Sharyo, Japan,” said Sabandar on Feb. 19.

Email: linda.silaen@theinsiderstories.com

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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