MRT Jakarta Ensures Uninvolved Project Funds For Japan's Recession

MRT Jakarta. (Between)

PT MRT Jakarta (Perseroda) confirmed that the funds for the subway and flyover projects in Jakarta and its surroundings were not affected by the Japanese economic recession, so the construction was still going according to plan.

"There is no influence because the budget in the Japanese government has already taken place," said the President Director of PT MRT Jakarta (Perseroda) Tuhiyat after the 'MRT Journalists Forum' in Jakarta, Tuesday, February 20, was confiscated by Antara.

Previously, it was reported that Japan's economy slipped into recession after two quarters of contracting in the third and fourth quarters of last year, Japanese government data said on Thursday, February 15.

The country's economy shrank at an annual rate of 0.4 percent in the October-December period due to weak spending power, the data said.

Real gross domestic product (GDP), the total value of goods and services produced in Japan, shrank 0.1 percent from the previous quarter, according to the government's initial figures.

Tuhiyat menjelaskan pihaknya yakin dalam tahapan pengerjaan proyek yang mendapat dukungan pendanaan Jepang untuk MRT Jakarta itu masih tetap berjalan optimal.Dia pun menambahkan saat ini MRT Jakarta tengah menunggu penandatanganan kontrak pinjaman dari Japan International Cooperation Agency (JICA) untuk MRT Jakarta East-West Line fase 1 tahap 1.

He targets the signing of the loan contract to be carried out in April 2024 and is expected to be effective about three months after the signing of the loan contract.

"The position has now been confirmed that the minutes of assessment discussion or Minutes of Discussion or MoD have been signed," he explained. MRT Jakarta is the first project in Indonesia through cooperation between the Government of Japan, the Central Government of the Republic of Indonesia, the Provincial Government of DKI Jakarta and PT MRT Jakarta.

Based on the minutes of discussing the assessment signed by the Indonesian government and the Japan International Cooperation Agency (JICA) in November 2023, the MRT Jakarta Corridor Timur-West will stretch along 84.1 kilometers from Balaraja, Tangerang to Cikarang, Bekasi.In the work it will be divided into four stages of work, namely phase 1 stage 1 (Tomang-Medan Satria for 30.1 km), phase 1 stage 2 (Kembatan-Tomang for 9.2 km), phase 2 east (Medan Satria-Cikarang for 20.5 km), and phase 2 West (Baaraja Resident for 29.9 km). The project itself received financing support from Japan as a major investor worth Rp160 trillion and PT MRT Jakarta (Perseroda) plans to start its construction in August 2024.