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Indonesia preps US$40 bil for a metro to rival Singapore's

Bloomberg
Bloomberg12/5/2019 10:28 AM GMT+08  • 4 min read
Indonesia preps US$40 bil for a metro to rival Singapore's
(Dec 5): Indonesia is preparing to spend about US$40 billion ($54.5 billion) to extend Jakarta’s metro network, a bigger-than-expected outlay that’s poised to boost the country’s construction companies and reignite a rivalry between China and Japan
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(Dec 5): Indonesia is preparing to spend about US$40 billion ($54.5 billion) to extend Jakarta’s metro network, a bigger-than-expected outlay that’s poised to boost the country’s construction companies and reignite a rivalry between China and Japan over building the project.

The spending plan, detailed in an interview with the head of the operator of the capital’s subway, is part of President Joko Widodo’s ambitious roadmap to create a US$7 trillion economy by 2045. While his administration has outlined a requirement to spend about US$455 billion on infrastructure over the next five years, policy makers have until now revealed few specifics.

PT MRT Jakarta is currently selecting financiers to help fund the expansion, said William Sabandar, its president director. It’s seeking to add an additional six lines to the one that partially opened earlier this year, he said, which could rival Hong Kong and Singapore in terms of length. The decision to broadly extend the network may surprise some analysts who were expecting the operator to work only on completing the first line.

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