After Delayed Eight Years, Jakarta Monorail Will Operating 2016 | Sector data
(Insider Stories) - Indonesia PT Jakarta Monorail and its parent company, Ortus Infarsttuctured Capital Ltd, has signed agreements with Indonesian telecommunication company PT Indosat (ISAT.JK), Bangkok Mass Transit System Company Ltd, China Comunications Construction Company Ltd, Changchun Railway Vehicle Corporation, Singapore Technologies Electronics Ltd, SMRT International Private Ltd and PT TUV Rheinland Ltd to develop the two lines Jakarta Monorail Projects.
Signing ceremony witnesses by Jakarta’s Governor Joko Widodo and Coordinating Minister of Economic Affairs Hatta Rajasa between Ortus’s Chairman Edward Soeryadjaja and its partners.
The acceleration of the monorail construction is important because it could solve Jakarta’s chronic traffic congestion Edward said that with the seven firms on board, a feasibility study would soon be conducted to determine the best construction methods for the IDR8 trillion project.
Ortus Executive Director Banyu Biru said, the groundbreaking a 30-kilometres monorail line and construction expected to start by end of this year and will start to operate early 2016.
Raider-ships estimate on average 500,000 people per day or 200-230 peoples per carriage. Every movement, He said will bring four to six carriages.
The project financing, Biru said, will comes from generated internal cash IDR2.1 trillion and others from external fund which is bank loans or treasury notes. Deutsche Bank, PT Bank Mendiri (BMRI.JK) and PT Bank Rakyat Indonesia (BBRI.JK) has shown their interes to lend the project.
Ortus own 88.88% in Jakarta Monorail after acquired the shares from PT Adhi Karya (ADHI.JK) in April 2013.
In June, Governor of DKI Jakarta processd Provincial Government of DKI Jakarta No: 787/-1.811.3 dated 24 June 2013 to resume the construction and development Jakarta Monorail Project with includes terms and conditions to be fullfilled by the company with its new shareholders Ortus Infrastructures Capital Ltd.
Meanwhile Jokowi expect the other monorail project from Bekasi - Jakarta - Soekarno Hatta Airport, Tangerang with total investment IDR7.8 trillion manage by Adhi Karya will get government approval and start develop in this year
