STRATEGIC ASSESSMENT. In a meeting with House Commission V on Thursday, Transportation Ministry Acting Director General Risal Wasal said that the progress of the Jakarta-Bandung High-Speed Railway (KCJB) construction has reached 91.70 percent as of December 2022. He said that the progress was based on the contractor’s calculation of the actual investment value.
Transportation Ministry Director Risal Wasal in a hearing with House Commission V on Thursday said the consortium responsible for the Jakarta-Bandung high-speed railway project, PT Kereta Api Indonesia China (KCIC), requested an extension of the concession for the management of the project.
According to the agreement, the KCIC investment value was $5.99 billion, with a concession period of up to 50 years from the date of the permit to operate the railway infrastructure and facilities. However, on Aug. 15, PT KCIC submitted a letter to the Transportation Ministry requesting the adjustment of the KCJB concession period. Because there are several obstacles in its implementation that affect business feasibility, the concession period must be extended to 80
