Jakarta –
Deputy Minister of BUMN Kartika Wirjoatmodjo confirmed that the cost overrun or swelling costs on the Jakarta-Bandung Whoosh Fast Train project had been covered. The funds came from a loan from PT Kereta Api Indonesia (Persero) (KAI) from the China Development Bank (CDB) totaling around US$ 448 million or Rp. 6.98 trillion.
“The cost overrun has been covered, this is actually a loan from CDB to KAI for injection, later in the form of a shareholder loan to PT KCIC. So this was disbursed yesterday, we are in the process of lowering it,” said the man who is familiarly called Tiko when met at Ancol area, North Jakarta, Monday (19/2/2024).
For information, the cost of the Woosh project is US$ 1.2 billion or Rp. 18 trillion. Some time ago PT KAI also received state capital participation (PMN) amounting to IDR 3.2 trillion to cover the swelling of the project.
Meanwhile, the rest is just waiting for the injection of funds from the Chinese consortium, Beijing Yawan HSR Co. Ltd. “That’s enough, so then we just have to wait for Beijing Yawan’s equity deposit,” he stressed.
Tiko explained that the injection of funds from Beijing Yawan was not a new debt for KAI. Meanwhile, funds received from CDB will be forwarded by KAI to KCIC.
“No, it’s not (debt), it’s equity. This is KAI’s debt, but KAI’s debt was paid to KCIC,” he said.
Tiko added that the portion of funding sources from PMN (Capital Fund Participation) is the smallest. Tiko also ensured that there would be no additional PMN to cover the swelling costs of the fast train project.
Previously, PT Kereta Api Indonesia (Persero) or KAI had signed a facility agreement with China Development Bank (CDB) to finance the cost overrun or swelling of the Jakarta-Bandung Fast Train project. KAI received the loan disbursement on February 7 2024.
Quoted from the Indonesian Stock Exchange (BEI) information disclosure, Tuesday (13/2/2024), the disbursement on February 7 was divided into two, namely Facility A amounting to US$ 230,995,000 or around Rp. 3.60 trillion (exchange rate Rp. 15,600).
Then Facility B is RMB equivalent to US$ 217,080,000 or around Rp. 3.38 trillion. In total, the two loan facilities are around IDR 6.98 trillion.
(ily/hns)
2024-02-19 15:04:08
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