{"id":4681,"date":"2019-12-30T16:30:01","date_gmt":"2019-12-30T09:30:01","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4681"},"modified":"2021-06-04T14:48:31","modified_gmt":"2021-06-04T07:48:31","slug":"indonesia-40-billion-metro-network-project","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indonesia-40-billion-metro-network-project\/","title":{"rendered":"Indonesia says it is ready to invest $40 billion on a metro network project"},"content":{"rendered":"<p>One that can easily compete with Hong Kong and Singapore\u2019s<\/p>\n<figure id=\"attachment_4682\" aria-describedby=\"caption-attachment-4682\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-4682\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/12\/shutterstock_1364718689.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/12\/shutterstock_1364718689.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/12\/shutterstock_1364718689-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/12\/shutterstock_1364718689-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-4682\" class=\"wp-caption-text\">MRT train set at depot Lebak Bulus, Jakarta, Indonesia. JokoSL\/Shutterstock<\/figcaption><\/figure>\n<p>According to PT MRT Jakarta, they are prepared to allocate around USD40 billion on the extension of the capital\u2019s metro network. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-12-04\/indonesia-preps-40-billion-for-a-metro-to-rival-singapore-s\" target=\"_blank\" rel=\"noopener noreferrer\">Bloomberg<\/a> revealed that these expenses would help boost the construction firms in the country, as well as resurrect the feud between China and Japan over the project.<\/p>\n<p>The head operator of the subway explained that the capital proposal is part of President Joko Widodo\u2019s plan to form a USD7 trillion economy by 2045. Even though his administration has already disclosed their intent to spend around USD455 billion on infrastructure in the next five years, it was only until this month when the policymakers decided to completely divulge the details.<\/p>\n<p>President director of PT MRT Jakarta William Sabandar said that they are currently choosing financiers to fund the expansion project. Aside from the partially opened line this year, they are planning to add six more to compete with the ones in Singapore and Hong Kong in terms of length.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/smart-city-near-jakarta-indonesia\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Indonesian property developer teams up with Japanese conglomerate to develop a smart city near Jakarta<\/strong><\/a><\/p>\n<p>\u201cWe have a target of building 230 kilometres by 2030, that\u2019s the masterplan. We only have 16 kilometres right now so the key is how we can do this in an accelerated way. We can no longer just build them one by one,\u201d said Sabandar.<\/p>\n<p>Upgrading Indonesia\u2019s rail network is a vital step in achieving Jokowi\u2019s desire to improve the country\u2019s overall infrastructure by accelerating the flow of people and goods, as well as easing the congestion problem.<\/p>\n<p>However, all his previous endeavours of building powerplants, dams, and ports have exhausted most of the state-owned construction firms and banking systems\u2019 resources.<\/p>\n<p>For the president\u2019s plan to materialise, they would require financial support from abroad, which would mean reigniting the rivalry between Japan and China, explained Yayat Supriatna, a transportation analyst at Trisakti University in Jakarta.<\/p>\n<p>\u201cWe have to acknowledge that Indonesia doesn\u2019t have the technical capabilities and the financial resources for this,\u201d added Supriatna. With China and Japan in competition, \u201cwe can make sure that we can pick the offer that gives us the best benefit.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One that can easily compete with Hong Kong and Singapore\u2019s<\/p>\n","protected":false},"author":9,"featured_media":20417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[154,574,640],"class_list":["post-4681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","tag-indonesia","tag-infrastructure-development","tag-metro-rail","news_country-indonesia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indonesia says it is ready to invest $40 billion on a metro network project | Asia 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