Indonesia realized the Jakarta Bandung Fast Train (KCJB) project with a total investment value of US$ 6.071 billion. Funding for the KCJB Project, 75% comes from the China Development Bank (CDB) and 25% from the shareholders' equity of PT Kereta Api Indonesia China (KCIC) namely PSBI and Beijing Yawan HSR Co. Ltd.
As of October 2018, CDB has recorded disbursed capital loans of US$ 810.4 million in three stages. PT KCIC Managing Director, Chandra Dwiputra, said that with this disbursement, it was hoped that the acceleration of the Jakarta Bandung fast train development by HSRCC could immediately produce significant progress.
"We believe it can accelerate the work acceleration and henceforth payment is made based on the progress of the work," explained Chandra in his written statement in Jakarta, Friday (10/26/2018).
Meanwhile, WIKA's Managing Director, Tumiyana, appreciated the initiation of CDB and KCIC's fast steps. The symbiosis of each party in the KCJB Project, according to him, will further foster stakeholders' trust in the future railway transportation development project that will connect the two megapolitan cities, Jakarta and Bandung.
"The challenge going forward is how WIKA as part of a consortium can encourage the acceleration of fast train development in a timely manner, on the right quality and cost," explained Tumiyana.
Reflecting on the foregoing, Tumiyana ensured that the return on investment in the KCJB project was not an issue to worry about. He explained that the loan term of the KCJB Project reached 40 years, where the first 10 years were a grace period.
"It means, in the first 10 years, WIKA has been able to obtain ashflow from the KCJB Project without having to repay loans. The obligation to repay loans with relatively small interest is calculated from the second 10 to the fourth 10 years. Cashflow is projected to come from sales of Tike," said Tumiyana
Cashflow which is also predicted to be able to sustain KCJB is coming from the optimization of the birth of new cities along the KCJB route, especially in 4 main transit; Halim, Karawang, Walini, and Tegalluar. The presence of the development of new cities in the 4 regions, after calculated with inflation, the valuation is estimated to reach Rp362 trillion.
The project is planned to last 36 months of work calendar for construction work and is expected to operate in 2021. The scope of WIKA's work in the consortium is structural, architectural, mechanical & electrical and landscape work. The Jakarta-Bandung Fast Train will connect four stations, namely: Halim, Karawang, Walini and Tegalluar (not far from the Gedebage area) which will later become the administrative center of Bandung City along 142.3 Km.
The KCJB development was developed with a business to business pattern based on foreign investment (PMA) without absorbing government spending at all from the State Budget (APBN) and the absence of guarantees from the government.
For information, KCIC, a joint venture or a joint consortium between PT Pilar Sinergi BUMN Indonesia (PSBI) and Beijing Yawan HSR Co. Ltd., which has the mandate to develop and implement the KCJB implementation project has a 40% stake in Beijing Yawan HSR Co. Ltd., while 60% is owned by PSBI which is a combination of WIKA with a composition of 38% equity participation, KAI 25%, PTPN VIII 25%, and JSMR 12%. (*)
As of October 2018, CDB has recorded disbursed capital loans of US$ 810.4 million in three stages. PT KCIC Managing Director, Chandra Dwiputra, said that with this disbursement, it was hoped that the acceleration of the Jakarta Bandung fast train development by HSRCC could immediately produce significant progress.
"We believe it can accelerate the work acceleration and henceforth payment is made based on the progress of the work," explained Chandra in his written statement in Jakarta, Friday (10/26/2018).
Meanwhile, WIKA's Managing Director, Tumiyana, appreciated the initiation of CDB and KCIC's fast steps. The symbiosis of each party in the KCJB Project, according to him, will further foster stakeholders' trust in the future railway transportation development project that will connect the two megapolitan cities, Jakarta and Bandung.
"The challenge going forward is how WIKA as part of a consortium can encourage the acceleration of fast train development in a timely manner, on the right quality and cost," explained Tumiyana.
Reflecting on the foregoing, Tumiyana ensured that the return on investment in the KCJB project was not an issue to worry about. He explained that the loan term of the KCJB Project reached 40 years, where the first 10 years were a grace period.
"It means, in the first 10 years, WIKA has been able to obtain ashflow from the KCJB Project without having to repay loans. The obligation to repay loans with relatively small interest is calculated from the second 10 to the fourth 10 years. Cashflow is projected to come from sales of Tike," said Tumiyana
Cashflow which is also predicted to be able to sustain KCJB is coming from the optimization of the birth of new cities along the KCJB route, especially in 4 main transit; Halim, Karawang, Walini, and Tegalluar. The presence of the development of new cities in the 4 regions, after calculated with inflation, the valuation is estimated to reach Rp362 trillion.
The project is planned to last 36 months of work calendar for construction work and is expected to operate in 2021. The scope of WIKA's work in the consortium is structural, architectural, mechanical & electrical and landscape work. The Jakarta-Bandung Fast Train will connect four stations, namely: Halim, Karawang, Walini and Tegalluar (not far from the Gedebage area) which will later become the administrative center of Bandung City along 142.3 Km.
The KCJB development was developed with a business to business pattern based on foreign investment (PMA) without absorbing government spending at all from the State Budget (APBN) and the absence of guarantees from the government.
For information, KCIC, a joint venture or a joint consortium between PT Pilar Sinergi BUMN Indonesia (PSBI) and Beijing Yawan HSR Co. Ltd., which has the mandate to develop and implement the KCJB implementation project has a 40% stake in Beijing Yawan HSR Co. Ltd., while 60% is owned by PSBI which is a combination of WIKA with a composition of 38% equity participation, KAI 25%, PTPN VIII 25%, and JSMR 12%. (*)
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