Railway operator Kereta Api Indonesia (KAI) and Railink, its subsidiary, secured loans to finance a rail link project between downtown Jakarta and Soekarno-Hatta International Airport. The loans obtained from four banks amount to more than Rp 2 trillion (143 million euros). The electric railway will also link the airport with existing commuter railway networks and will be finished by the end of 2016.
Rp 1.4 trillion were granted to KAI by Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia and private lender Bank Central Asia. The rest of Rp 612 billion was granted to Railink.
The companies will also use internal resources to finance the project, which will cost an estimated Rp 2.5 trillion in total. The construction works will start in July this year.
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