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Indonesian companies ask China to up stake in high-speed rail project as its Covid-19 total nears 1.6 million

JAKARTA, April 17 (Reuters): As Indonesia s Covid-19 total reached 1,599,763-total on Saturday after 5,041 ... new cases was recorded; Indonesian state companies building a Chinese-funded high-speed rail line are negotiating for Beijing to increase its stake in the project after budget overruns look set to boost costs by a fifth, a company executive said.
The 142 km (88 miles) rail project, connecting the capital Jakarta to Bandung, which is part of China s Belt and Road Initiative, was originally expected to cost 66.76 trillion rupiah ($4.57 billion) when awarded to a consortium of Chinese and Indonesian state firms in 2015.
Construction company Wijaya Karya has the biggest share in a 60% stake it co-owns with other Indonesian firms in the consortium, named PT KCIC. The China Railway Engineering Corporation and other Chinese companies control the rest. ....

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Indonesian companies negotiate with China to increase stake in rail project

Indonesian companies negotiate with China to increase stake in rail project
railway-technology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from railway-technology.com Daily Mail and Mail on Sunday newspapers.

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Indonesian companies ask China to up stake in high-speed rail project

By Reuters Staff
3 Min Read
JAKARTA, April 15 (Reuters) - Indonesian state companies building a Chinese-funded high-speed rail line are negotiating for Beijing to increase its stake in the project after budget overruns look set to boost costs by a fifth, a company executive said.
The 142 km (88 miles) rail project, connecting the capital Jakarta to Bandung, which is part of China’s Belt and Road Initiative, was originally expected to cost 66.76 trillion rupiah ($4.57 billion) when awarded to a consortium of Chinese and Indonesian state firms in 2015.
Construction company Wijaya Karya has the biggest share in a 60% stake it co-owns with other Indonesian firms in the consortium, named PT KCIC. The China Railway Engineering Corporation and other Chinese companies control the rest. ....

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Indonesian companies ask China to up stake in high-speed rail project

Indonesian companies ask China to up stake in high-speed rail project
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রেলে চড়ে কক্সবাজার | Suprobhat Bangladesh

রেলে চড়ে কক্সবাজার | Suprobhat Bangladesh
suprobhat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from suprobhat.com Daily Mail and Mail on Sunday newspapers.

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