State-owned infrastructure financing firm Sarana Multi Infrastruktur (SMI) and Bank ICBC Indonesia, the local unit of China’s ICBC, agreed to provide a syndicated loan for the Soekarno-Hatta International Airport railway line project. The value of the loan is $53.3 million.
The funds will be used by state-owned train manufacturer Industri Kereta Api (INKA) to buy 10 train sets for the project, according to Emma Sri Martini, president director, SMI. The ten train sets will operate 16 hours a day while carrying 57,600 passengers a day.
“SMI is thrilled to synergize with ICBC Indonesia and INKA to provide the train sets which is our first time in providing funding for train rolling stock,” Emma Sri Martini said.
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