President Joko Widodo attended at the groundbreaking event of Indonesia’s first-ever high-speed railway project. The 143-km line will link Jakarta with Bandung (in western Java), and is contructed by PT Kereta Cepat Indonesia-China, a joint venture formed by Indonesian consortium of four companies and China Railway International Co. Indonesian part will have a 60 percent stake in the project. The value of the project is USD 5.5 billion, of which China Development Bank will provide 75%.
The four Indonesian companies are PT Kereta Api, the railway operator, PT Wijaya Karya, a construction company, PT Jasa Marga and PT Perkebunan Nusantara VIII.
The contract was signed in October 2015, after Indonesia selected China over Japan for this project. The line will be put into operation in 2019, when trains will run at 250 km/h.
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