UK and EIB Offer Investment Proposal for MRT Phase 3 East-West Line development

The Jakarta Mass Rapid Transit (MRT)

The development of the Mass Rapid Transit (MRT) system in Indonesia is continuing, with plans for investment in the East-West Line’s Phase 3 coming from the United Kingdom and the European Investment Bank (EIB). The proposal for the investment has already been offered to the West Java regional government.

The United Kingdom Export Finance (UKEF) has sent an expression of interest to fund the Jakarta MRT Phase 3 project worth US$1.2 billion or IDR19.3 trillion.

The CEO of MRT Jakarta, Tuhiyat, confirmed the plan and said that it has been offered to the West Java regional government through the Ministry of Transportation. Furthermore, the European Investment Bank (EIB) is also interested in financing the MRT project in West Java.

According to Tuhiyat, the company will assist the West Java and Banten regional governments in finding funding sources to ensure that the construction proceeds optimally.

The company has also conducted a roadshow to Europe and the United Kingdom to help raise funds for the MRT project in both regions. However, the final decision on financing for this phase will be in the hands of the Ministry of Transportation, given that the construction of the Phase 3 line involves two regions outside Jakarta, West Java and Banten.

Tuhiyat explained that the Ministry of Transportation will decide on the financing scheme for the project in West Java, as the Cikarang and Balaraja phases are no longer located in Jakarta.

The East-West Line project will be divided into two phases, the first of which will cover the DKI Jakarta area and is expected to start operating in 2031, with the latest construction target set for 2024.

The second phase will cover Banten and West Java, with a target start of operation in 2033. Phase 1 will be divided into two stages, the first of which is a 24.527 kilometer line that will pass through Tomang, Dukuh Atas, Senen, Perintis to Medan Satria, while the second stage is a 9.237 kilometer line that passes through Tomang and Kembangan.

Meanwhile, MRT East-West Phase 2 will be divided into two lines, namely East-West Banten, a 29.900 kilometer line that will pass through Kembangan, Kelapa Dua, to Balaraja, and East-West West Java, a 20.438 kilometer line that will pass through Medan Satria and Cikarang.

With the support of the British and EIB investments, the MRT project in Indonesia is expected to improve the country’s transportation infrastructure and facilitate economic development.