MRT Collaborates With 4 Private Partners Consortium To Fund Phase 3 Projects

ILLUSTRA TION BY VOI

JAKARTA - PT MRT Jakarta (Perseroda) is collaborating with four consortium private partners to finance the construction of the Phase 3 MRT project that connects Balaraja-Cikarang.

President Director of PT MRT Jakarta (Perseroda) William Sabandar mentioned the four funding partners, namely JICA, Asian Development Bank, European Investment Bank, and UK Export Finance (UKEF).

"There are four potential funding consortium organizations, namely JICA, ADB, EIB, UKEF and this is also possible for the private sector to work together," William said as quoted by Antara, Tuesday, May 24.

William explained that the investment cost to build Phase 3 along the 87 kilometers reached Rp160 trillion, or ten times the funding requirement when building the MRT Jakarta Phase 1 route HI-Lebak Bulus Roundabout which amounted to Rp16 trillion.

In Phases 1 and 2, funding comes from a loan from the Japanese Government through JICA with a portion of 51 percent borne by the DKI Jakarta Provincial Government and 49 percent by the Central Government.

However, if using the financing model, Willy, as he is familiarly called, explained that the construction for Phase 3 had only been realized in 55 years.

Therefore, his party proposes a consortium financing model with an estimated completion time of 15 years. This is armed with the success of the British in building the Elizabeth Line (Elizabeth line) which stretches up to 117 km.

The construction of the Phase 3 MRT which crosses three provinces, namely Banten, DKI Jakarta and West Java, of course also requires support from the Government through the issuance of regulations to accelerate development.

"Currently there is no metro system in the world that is implemented without government intervention. So the government's job is to provide acceleration regulations. Elizabeth Line was built because there is a law. Because it involves the interests of the community," he said.

The construction of MRT Phase 3 is estimated to carry up to 1.2 million passengers per day.

MRT plans to use renewable energy, hydrogen and diesel for its operations.