TEMPO.CO, Jakarta – Indonesian state-owned railway operator PT Kereta Api Indonesia (KAI) signed a facility agreement with the China Development Bank for financing the cost overrun of the Jakarta-Bandung high-speed train or Whoosh project.
As reported on the Indonesia Stock Exchange (IDX), KAI said the loan disbursement was received on February 7, 2024, for two facilities totaling Rp6.9 trillion.
Facility A amounted to US$230.99 million or Rp3.6 trillion, at an assumed exchange rate of Rp15,603 per US dollar. Meanwhile, Facility B was valued at US$217.08 or Rp3.3 trillion.
“The loan disbursement was immediately transferred to PT Pilar…