PT MRT Jakarta is planning to extend the Mass Rapid Transit (MRT) track over the next seven years. The total investment needed is estimated to be USD 5.40 billion.
The first phase of the MRT running 8 kilometers from the South to Central Jakarta was opened in April 2019. The USD 3 billion project was funded by the Japan International Corporation Agency (JICA), while the construction itself was done by two consortia of local and Japanese companies.
PT MRT Jakarta is expected to announce the winner of the tender of a second line. This line stretches for 7 kilometers and runs underground from downtown to North of the city. It is expected to be finished by 2025. The third line which will connect the Eastern part to the West of the city will start construction in 2020 and is expected to be completed by 2026.
The company is looking for funding from lenders such as JICA, the Asian Development Bank, China-backed Asian Infrastructure Investment Bank, as well as government and private sector loans.
(Source: Reuters)
