Bengkak Cost, Jakarta-Bandung High-speed Rail Project Needs An Additional PMN Of IDR 3.2 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA - The Jakarta-Bandung High Speed Train (KCJB) project requires state capital participation (PMN) to cover cost overruns.

The PMN required is IDR 3.2 trillion.

This was conveyed by the Deputy Minister of BUMN II, Kartika Wijoatmodjo to reporters, quoted Thursday, September 29.

"The need for pmn from the government may be around Rp. 3.2 trillion," said Tiko, Kartika's nickname.

Tiko said the KCJB project budget would be patched from loans (loan) or debts in banks and PMN. Tiko said the loan was allocated to increase 75 percent of the total budget overrun for this national strategic project (PSN).

Meanwhile, Tiko continued, 25 percent of the total cost overrun were covered by the Indonesian consortium, namely PT Pilar Sinergi BUMN Indonesia (PSBI) and the China Railway International Co. Ltd consortium. One of them is through PMN which will later be given to PT KAI (Persero).

Tiko explained that the equity portion of 25 percent did indeed come from PMN. Previously, it was planned to use the budget of PT Wijaya Karya (Persero) and PT KAI (Persero). However, because the finances of these two companies were problematic due to the impact of COVID-19, they were transferred to PMN.

"So the distribution portion of 25 percent is indeed PMN. At first, we were not PMN, we used WIKA and KAI money, because KAI's COVID-19 was also problematic, we strengthened the KAI," he said.

Tiko said, currently the cost overrun for the KCJB project is still in the audit stage by the Financial and Development Supervisory Agency (BPKP).

"So the cost overrun is that we are currently auditing the BPKP, right, we have a committee meeting next week, so we will pay for it from PMN which through the Presidential Regulation is the same as loans, we are still planning it," he said.

Still, Tiko said, the calculation (exercise) of the second cost overrun will be discussed.

Tiko said the second calculation would be the final figure.

"There is a second exercise that we are discussing next week, we should go out with an exercise number, then we will propose PMN for 2022," he explained.