BUSINESS
Chinese-backed firm gets high-speed rail contract in Indonesia
2017-04-05 11:10 GMT+8
5239km to Beijing
Editor
Yan Qiong
A consortium of Chinese and Indonesian firms has signed on Tuesday a contract for the construction of Indonesia’s and Southeast Asia’s first high-speed train line.
The 142-kilometer railway will link the capital Jakarta to the capital of the nation’s West Java Province, Bandung.
High Speed Railway Contract Consortium (HSRCC) signed the Engineering, Procurement, and Construction (EPC) contract with KCIC, the firm tasked with monitoring the project, Tuesday afternoon.
Indonesian models watch a bullet train model at the China high-speed railway exhibition in Jakarta, Indonesia on August 13, 2015. /VCG Photo
It is expected to be built in three years and the high speed trains will be able to reach speeds of 350 kilometers per hour.
The train line will cut the time it takes to travel between the two cities to half an hour, spurring economic activity.
HSRCC Project Director Xiao Songxin said the project can be finished as early as 2019 through good cooperation and communication.
"We will work hard to attain the best quality standards for the Jakarta-Bandung high speed railway train project," he said.
KCIC President Director Hanggoro Budi Wiryawan said the firm has settled most of the lingering problems, including official permits.
Wiryawan was also optimistic about negotiations with China Development Bank (CDB) over the 4.7 billion U.S. dollars needed to partly bankroll the project.
The signing of the contract was witnessed by Chinese Ambassador to Indonesia Xie Feng and Indonesia's Presidential Chief of Staff Teten Masduki.
Ambassador Xie said the project would be finished on schedule with the full support of the Indonesian and Chinese governments.
Hailing the signing of the contract, Masduki said that the project would lead to a breakthrough in Indonesia's national train transport system.
"This project would become the cornerstone for Indonesia's train modernization," he said.
(Source: Xinhua)
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