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Indonesia's National Railway Gets New Loan from China's CDB, Involving US$450M
KAI, Indonesia's national railway company that is leading the China-Indonesia consortium to build and operate the high-speed railway between Jakarta and Bandung, has secured a ...
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Indonesia's National Railway Gets New Loan from China's CDB, Involving US$450M
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KAI, Indonesia's national railway company that is leading the China-Indonesia consortium to build and operate the high-speed railway between Jakarta and Bandung, has secured a new loan of nearly US$450 million from the China Development Bank (CDB) to cover the project's increased cost.

Of this amount, US$231 million is a USD loan and the rest is in RMB. CDB approved a US$4.55 billion 40-year loan for the railway project in 2017, with a 10-year grace period and an interest rate of 2% per annum.

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The construction cost of the high-speed railway exceeded the budget by US$1.2 billion, resulting in a total cost of US$7.3 billion, due to rising costs of land acquisition and delays caused by Covid. The 142 km long railway opened last year.

Indonesia is considering extending it by more than 700km to Surabaya, Indonesia's second-largest city, in East Java.



Related NewsInitial Jobless Claims for Mar/22 in United States is 224K, lower than the previous value of 225K. The forecast was 225K.

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