In Two Months Land Acquisition for Jakarta-Bandung Fast Train Project to be Completed

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Photo: rappler.com

TANGERANG, presidentpost.com – Transportation Minister Budi Karya Sumadi has said the land acquisition for the construction of the Jakarta-Bandung rapid railway with the length of 142 kilometers will be completed in April 2018.

“What elating is that the land acquisition is underway and will be completed in April,” Budi said at the Coordinating Ministry of Maritime Affairs, Jakarta, on Thursday (2/8).

Once the land acquisition finished, the loan from the China Development Bank (CDB) will be disbursed. The total investment of the Jakarta-Bandung high speed rail project is US$5.9 billion, 25% of which is the capital of a consortium of state-owned enterprises (SOEs) and China while the rest is the CDB loan.

Of the 25%, China Railway International Co Ltd will inject 40% of the fund or about Rp7.5 trillion. The remaining 60% or about Rp11.5 trillion will be financed by the SOEs incorporated in PT Pilar Sinergi BUMN Indonesia (PSBI).

“The funding from China has not been liquid yet, pending the finalization of land acquisition,” he added.

Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said that the land acquisition in the Jakarta area will be completed by the end of February.

“Regarding the land acquisition, most likely we will finish it by the end of February or March at the latest,” he said.

Meanwhile, Director General of Land Procurement of the Agrarian and Spatial Planning Ministry Arie Yuriwin said that in Jakarta 258 land plots are needed, of which 3.1 hectares had been acquired. For the West Java area, the 6,317 land plots needed have been measured and are now waiting for the pricing.

“The land acquisition in DKI Jakarta is expected to finish in March, while for those in West Java we expect to complete it in April,” said Arie. (DTK/TPP)