Indonesia expects to finalise $560 mln rail loan from China

11 Oct 2023 CW Team

Indonesia is poised to sign a long-anticipated $560 million loan agreement with China during the upcoming Belt and Road Forum (BRF) in Beijing, as confirmed by an Indonesian official on Monday. This substantial loan is earmarked to address the escalating costs associated with Indonesia's inaugural high-speed railway project.

President Joko Widodo inaugurated the $7.3 billion railway earlier this month, which links the capital city, Jakarta, with Bandung. However, the project faced funding uncertainties due to prolonged negotiations regarding the loan's terms.

The railway venture is a collaborative effort between Indonesian and Chinese state-owned companies but has encountered a cost overrun of approximately $1.2 billion, as reported by the Indonesian government.

Kartika Wirjoatmodjo, Deputy Minister of State-Owned Enterprises, expressed optimism about the loan's status, stating, ""Next week it should be done."" He further indicated that the formal signing of the loan agreement may occur during the Belt and Road Forum, where both President Widodo and Chinese President Xi Jinping are expected to jointly inaugurate the commercial operations of the high-speed train.

This loan agreement underscores the significance of the Belt and Road Initiative (BRI) in fostering infrastructure development and connectivity projects, while also addressing the financial challenges that occasionally arise during their implementation.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..