Jakarta’s Soekarno-Hatta Airport rail link project has secured a USD 53.3 million syndicated loan for the purchase of 10 trains, state-owned infrastructure financing firm, Sarana Multi Infrastruktur (SMI), has confirmed.
State-owned train manufacturer Industri Kereta Api will procure the trains with SMI and Bank ICBC Indonesia, the domestic subsidiary of China’s ICBC, providing the funds.
A Rs 2 trillion (USD150 million) loan was secured last year to help fund the Rs 2.5 trillion (USD 187 million) project. This involves constructing a 12km double-track branch line, which will diverge from the Jakarta – Tangerang commuter line.
A new express service linking Soekarno-Hatta and Halim Perdanakusuma Airport is expected to start in 2019.
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