Kereta Api Indonesia, or KAI, is committed to completing the construction of the Jakarta-Bandung Fast Train (KCJB) on time. They confirmed after receiving State Capital Investment (PMN) of IDR 3.2 trillion.
As of December 2022, the progress of the physical construction of KCJB has reached 82.61 percent. The KCJB investment progress reached 91.8 percent.
KAI’s VP of Public Relations Joni Martinus in his statement in Jakarta, Tuesday, said, “Through this PMN, KAI will oversee the construction of KCJB so that it can be enjoyed by the community according to the set time. We together with all stakeholders also continue to strengthen commitment and improve coordination for the sake of increasing the safety of the KCJB project construction,”
Joni conveyed that PMN acceptance was determined based on Government Regulation Number 62 of 2022 concerning the Addition of RI PMN to KAI’s Share Capital on December 31, 2022.
He said the PMN sourced from the 2022 APBN would increase KAI’s capacity in order to complete the KCJB project.
KAI will use the PMN to finance Indonesia’s equity portion of the KCJB project’s cost overrun so that its construction can reach its operational target in June 2023.
Meanwhile, according to Presidential Decree Number 93 of 2021, KAI was appointed as the head of the SOE consortium for the KCJB project and stipulated that the government could provide PMN to the heads of the SOE consortium.
As a National Strategic Project (PSN) to serve public transportation, government support is needed for the completion of the first fast train in Southeast Asia.
The determination of the cost overrun of the KCJB Project has also gone through an audit by the Financial and Development Supervisory Agency (BPKP) so that it can be accounted for.
Joni said that KAI also ensured that PMN fund management was following Good Corporate Governance (GCG) to realize accountable KCJB project development accountability.
Furthermore, KAI together with all stakeholders continues to prepare facilities, infrastructure, and human resources so that when it is operated later, KCJB is in reliable and prime condition and does not experience significant problems.