Take Over Jabodebek LRT Debt, DPR Highlights KAI's Financial Burden

Illustration - The Jabodebek LRT whose debt burden must finally be borne by PT Kereta Api Indonesia (KAI). (ANTARA/HO-LRT Jabodebek)

JAKARTA Member of Commission VI DPR RI, Herman Khaeron, highlighted the increasingly heavy financial burden of PT Kereta Api Indonesia (KAI). This follows the plan to take over the debt of the Jabodebek LRT project worth IDR 2.2 trillion.

"PT KAI is already starting to have a heavy burden because it has to bear the fast train, has to bear the LRT, and of course it must also continue to run the regular train line," Herman told VOI, Sunday, September 14.

Herman also touched on the cost overrun problem that overshadowed the Jabodebek high-speed rail and LRT projects. This condition, he said, made the position of PT KAI even more difficult.

"The problem was hard yesterday because there was a cost overrun, both in the construction of high-speed trains and LRT," said Herman.

Previously, the Jabodebek Light Rail Transit (LRT) development left a debt to PT Adhi Karya (Persero) Tbk of IDR 2.2 trillion. The plan is that the debt will be paid by PT Kereta Api Indonesia (Persero) or KAI as the manager of the Jabodebek LRT.

Director Adhi Karya Entus Asnawi said the government's receivables were still in process. Even so, he admitted that he had received confirmation from the Ministry of Finance regarding the payment of the Jabodebek LRT receivables which would be made in full by KAI.

"The current process we have received confirmation from the Ministry of Finance that the payment will be made through KAI. Either with a payment scheme or a subsidy scheme to the KAI. KAI will later go to Adhi Karya to pay in full," he said at a virtual Public Expose Live event, Monday, September 8.

Entus admitted that he was still waiting for a study to get the commercial figures for paying the debt. The disbursement of the receivable will help the company to complete a number of obligations.

"If the benefits are of course very beneficial if it can be disbursed. At least we can complete some of the obligations that exist in Adhi Karya," he said.

Even so, Entus admitted that since 2024, the company has debts to suppliers of approximately IDR 4 trillion and debts to banks are around IDR 2.4 trillion.

"So it's quite good. If this (LRT Jabodebek receivables) is liquid, it can go down even more. This is part of the working capital that we will use in the future. There are also several other projects that have large receivables that we are currently processing for disbursement," he said.

Entus said the construction of the first phase of the Jabodebek LRT along 44 km was initially funded by the government. Then, the change in Presidential Regulation (Perpres) Number 98 of 2015 where funds amounted to Rp. 23.3 trillion were given through PMN from the total contract value of Rp. 25.5 trillion.

"Until the completion of this work, we have spent Rp. 25.5 and we have been paid Rp. 23.3, so that there is still Rp. 2.2 trillion left," he said.

Meanwhile, Finance Director Adhi Karya, Bani Iqbal targets the settlement of the receivables involving the government to be completed by the end of this year.

Bani admitted that the largest receivables for the distribution came from the Jabodebek LRT development project.

The largest debt currently is receivables from the LRT which are still in the process of being discussed with KAI, the Ministry of Finance, and also the Danantara for completion. The target can be completed as soon as the end of this year," said Bani.