REPUBLIKA.CO.ID, JAKARTA -- A Singapore-based investor is interested to invest in the construction project of Jakarta light rapid transit (LRT), Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said.

The investment will reduce the financing portion of domestic banks by Rp2 trillion from the initial calculation.

"With the investment that will reduce the portion of the local banks, (we expect) it will lure more private parties to invest," the minister said here on Monday.

According to Pandjaitan, many details about the project are still needed to be completed.

As the first LRT project to be developed by the government using a different scheme, a lot of supporting regulations must be provided.

Also read: Govt offers LRT-based areas to private sector

"(Those regulations) must be made so that the project will run smoothly and be an example for other LRT projects," Pandjaitan said.

Jakarta LRT project is carried out by state-owned PT Adhi Karya as contractor and state-owned railway operator PT Kereta Api Indonesia (KAI) as both investor and operator. The project requires Rp26.7 trillion consisting of of state equity participation and banking credit.

While the government covers around Rp9 trillion from the total budget, the rest of fund comes from Mandiri Bank, BRI, BNI, CIMB Niaga and BCA. 

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