JAKARTA. PT Kereta Api Indonesia (Persero) or KAI has secured a State Equity Participant (lit. Penyertaan Modal Negara/PMN) worth IDR 3.2 trillion for the Jakarta-Bandung High-speed Railway Project (KCJB).

This extra investment matches the amount proposed last December 2022. Asdo Artriviyanto, VP Corporate Secretary of KAI, claimed that this funding will be channelled as capital investment to PT Pilar Sinergi BUMN Indonesia (PSBI).

“It is to cover the cost overrun incurred by the Jakarta-Bandung High-speed Railway Project (KCJB) to PT Kereta Cepat Indonesia Chine (KCIC),” Artriviyanto further revealed in the official disclosure.

In November 2022, the Ministry of State-Owned Enterprise (BUMN) has requested IDR 3.2 trillion of PMN for KAI to the House of Representatives of Indonesia (DPR RI). This extra money is expected to help to reaise the timely completion of this rapid railway project in June 2023.

KCJB is one of the government’s strategic national projects. With this rapid railway, Jakarta-Bandung trip is estimated to take only approximately 36 minutes. (KR/ZH)