Public transportation project: MRT Jakarta continues to pursue new investors
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Bisnis Indonesia - Proyek angkutan publik: MRT Jakarta terus buru investor baru
26 January 2023
By: Lorenzo Anugrah Mahardhika
Jakarta - PT MRT Jakarta (Perseroda) is continuously hunting for investors who want to invest in the development of Mass Rapid Transit (MRT) Phase 3 or the East-West Line from Cikarang-Balaraja.
MRT Jakarta President Director Tuhiyat said that his company had received funding from a Japanese investor to develop MRT Phase 3 worth Rp160 trillion.
The commitment from the Japanese investor has been stated in a memorandum of understanding (MoU) signed by Japan International Cooperation Agency (JICA) and the Transportation Ministry.
However, Tuhiyat has yet to mention the investment value that will be provided by JICA as the development process of MRT Phase 3 is still in the basic engineering design (BED) stage, which is carried out by the Transportation Ministry.
“It is still in the form of an MoU, so it will be developed into a cooperation agreement (PKS). When the PKS has been prepared, the value [of JICA’s investment] will be revealed. However, we are still waiting for the BED to be completed,” he said on Wednesday (25/1).
Tuhiyat continued that the MoU that has been signed by JICA and the Transportation Ministry included the development of MRT Phase 3 in Jakarta. Meanwhile, the development of Phase 3 outside Jakarta will be carried out by another party.
He said that his company cannot confirm which investor will be involved in the development of MRT Phase 3. However, there is still a chance that investors from other countries will be involved in the project’s construction in Banten and Bekasi.
The East-West Line MRT project will be divided into two phases. The first phase includes Jakarta, and it is expected to operate in 2031 with construction commencing in 2024 at the latest.
The second phase includes Banten and West Java, and it is set to operate in 2033.
