KONTAN.CO.ID - JAKARTA. Indonesia's state-owned railway firm PT KAI said on Tuesday it has received a 3.2 trillion rupiah ($205.33 million) capital injection from the government to help a consortium of Indonesian and Chinese state companies complete a high-speed rail project. The capital top up will partially finance rising costs to build a 142-km (88.23 miles) high-speed rail line linking the capital Jakarta with the textile hub of Bandung, West Java. The total project cost was initially estimated at $6 billion, but last year Jakarta said an additional $1.45 billion was needed to meet a deadline for a commercial launch by June, 2023.
Indonesia Rail Company Gets $200 mln Capital Top Up for China-Backed Project
KONTAN.CO.ID - JAKARTA. Indonesia's state-owned railway firm PT KAI said on Tuesday it has received a 3.2 trillion rupiah ($205.33 million) capital injection from the government to help a consortium of Indonesian and Chinese state companies complete a high-speed rail project. The capital top up will partially finance rising costs to build a 142-km (88.23 miles) high-speed rail line linking the capital Jakarta with the textile hub of Bandung, West Java. The total project cost was initially estimated at $6 billion, but last year Jakarta said an additional $1.45 billion was needed to meet a deadline for a commercial launch by June, 2023.