BUMD synergy, Bank DKI wants to be involved in funding the phase III MRT project

Published: 23 February 2020

Committed to building synergy with BUMDs in DKI Jakarta, Bank DKI wants to be involved in funding the construction of phase III of the integrated motorway (Mass Rapid Transit/MRT) on the Ujung Menteng-Kalideres route in 2020. "For example, the MRT which will build the Ujung Menteng to Kalideres route, we will also invite other Regional Development Banks (BPD) to participate through syndication," said Bank DKI President Director, Zainuddin Mappa in Jakarta (22/2).

Zainuddin made this statement after being a speaker at the National BPD Seminar throughout Indonesia with the theme BUMD synergy which was held at the Mercure Ancol Hotel, North Jakarta, Saturday afternoon. The investment funds will be calculated based on the funds required by the MRT and the readiness of the BPD. PT MRT Jakarta estimates the funds needed for the construction of phase III of the Kalideres-Ujung Menteng route.

The Kalideres-Ujung Menteng route is part of the East-West corridor which stretches from Balaraja to Cikarang for 31.7 km. For the initial stage, MRT Jakarta will focus on routes within the city (inner Jakarta). If the DKI Provincial Government agrees, the construction of the East-West inner Jakarta corridor will be divided into two stages, namely stage I Kalideres-Cempaka Baru with a length of 20.1 km and stage II Cempaka Baru-Ujung Menteng with a length of 11.6 km.

Due to the large amount of funds required, MRT Jakarta admitted that the East-West corridor financing scheme cannot use an intergovernmental loan strategy (G to G) such as the North-South corridor phases I and II.

MRT Jakarta Director of Finance and Administration Tuhiyat said the number of MRT passengers from March to December 2019 reached an average of 89,645 passengers per day. "The increase in the number of passengers experiences a positive trend every month with a total per year reaching 24,621,467 passengers," he said.

Tuhiyat said that the collaboration with Bank DKI had actually been initiated through the management of MRT financial administration. There are four forms of pioneering cooperation, including 'payroll system', 'operational financing', 'fund placement', and other welfare.