(Insider Stories) - Ortus Holdings Limited (Ortus), announces a joint venture between Ortus Infrastructure Capital Ltd. and SMRT International Pte. Ltd., a wholly-owned subsidiary of Singapore Stock Exchange-listed SMRT Corporation Ltd. (SMRT).

The joint venture will see SMRT International subscribing for new shares comprising 40 percent of the total enlarged issued share capital of Ortus Infrastructure Capital Pte. Ltd., a Singapore company which holds a 55-percent shareholding in PT Jakarta Monorail.

The joint venture provides PT Jakarta Monorail with a shareholder and partner with experience in mass transit system operations to assist in the strategic planning and construction of the Jakarta Eco Transport Monorail. Referred to as the “JET,” the name for the monorail was selected by the citizens of Jakarta in the citywide naming competition.

SMRT will provide a technical team to assist PT Jakarta Monorail in several major components for the implementation of the monorail project, including a feasibility study of the proposed monorail route and aiding in the design of the project.

SMRT will also advise PT Jakarta Monorail on additional commercial aspects of the monorail project, including non-farebox revenues associated with the project such as real estate and media.

"Ortus is proud to announce this strategic partnership with SMRT, one of the best companies in the world for public transport operations. We look forward to working together with SMRT to realize our vision in making the JET a reality and providing the citizens of Jakarta with a reliable and affordable public transportation system. Together, we can make the JET an iconic symbol for our city,”. Ortus Director of Business Development, Banyu Biru Djarot said.

SMRT’s Vice President of Business Development, Mr. Goh Eng Kiat, adde, the JET Monorail project not only represents one of the most important infrastructure projects in Jakarta, but in all of Indonesia.

The signing took place at SMRT’s Headquarters between Ortus Infrastructure Capital Director, John Aryananda, and SMRT Vice President of Business Development, Goh Eng Kiat, in the presence of Ortus Founder and Chairman, Edward S. Soeryadjaya, and SMRT President and Chief Executive Officer, Desmond Kuek.