Indonesian transportation needs more investment $608 million
JAKARTA – Transportation Ministry is inviting state firms, regional firms and the private sector to invest in transportation projects to cover the financial gap of Rp791 trillion (US$608.46 million). Transportation Minister Budi Karya Sumadi, said under the Mid-Term Development Plan for 2015 to 2019, Indonesia needed Rp 1.28 quadrillion to develop its transportation infrastructure, while the government was only able to allocate one-third of its total budget, or Rp 491 trillion, toward this goal. According to ministry data, five airports that have proposed to work with state firms are Samarinda Baru Airport in Samarinda (East Kalimantan), Hanandjoedin Airport in Tanjung Pandan (Belitung), Kalimarau Airport in Berau (East Kalimantan), Raden Inten II Airport in Lamping and Juwata Airport in Tarakan (North Kalimantan). While, Coordinating Ministry for Maritime Affairs, Luhut Panjaitan recently invited Japan investors to develop fast train project linking Jakarta-Surabaya. Currently, the Ministry of SOEs create a joint venture with the Chinese government to develop Jakarta – Bandung high Speed train. The state firms are represented by PT Wijaya Karya Tbk (IDX: WSKT), PT Kereta Api Indonesia, PTPN VII, and PT Jasa Marga Tbk (IDX: JSMR). The cooperation is done with China Railway International Co. Ltd and formed JV company, called PT Kereta Quick Indonesia China (KCIC) to build a fast train from Jakarta to Bandung.
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Indonesian transportation needs more investment 8 million