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JAKARTA - The developer of the country's first monorail has vowed success in the establishment of a modern city transportation mode, luring investors to take part in the US$600 million project. Jakarta Monorail director Sukmawaty Syukur said Wednesday that a consortium of banks in Dubai was expected to disburse the funds within one or two months.
"The consortium of banks is taking preliminary measures for the loan," Sukmawaty said. The signing of an agreement with the consortium earlier in March was witnessed by Governor Sutiyoso. Sukmawaty said the project's progress, such as the erection of pylons on Jl. Rasuna Said, had helped convince the Dubai banks to put their trust in the developer.
Jakarta Monorail is now racing against a 2007 deadline amid growing public skepticism over the success of the project, which is still coming up against internal problems. Jakarta Monorail is a consortium that initially consisted of PT Indonesia Transit Central (ITC) and foreign partner Omnico Singapore. The dispute was sparked by ITC's decision to assign the Indonesia Consortium of Monorail Industries as a rolling stock supplier for the project, opposing Omnico's interest, which had preferred South Korea's Rotem.
ITC, however, stuck to its decision to pick the local consortium because at $ 496 it would be able to employ cheaper wheels-on-rails technology, compared to the magnetic levitation technology of Rotem, which costs $826 million. ITC later decreased Omnico's share in the consortium to 2 percent from an initial 45 percent. As a result of the dispute, Omnico has taken the matter to the Central Jakarta Court.
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This is fastly becoming an even more sad story than it already is. Funds seem to be found every several months, but then... nothing happens! The first news dates back to somewhere in 2003, and after almost three years, there is not much to be found of a monorail under construction.
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This is fastly becoming an even more sad story than it already is. Funds seem to be found every several months, but then... nothing happens! The first news dates back to somewhere in 2003, and after almost three years, there is not much to be found of a monorail under construction.
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This is fastly becoming an even more sad story than it already is. Funds seem to be found every several months, but then... nothing happens! The first news dates back to somewhere in 2003, and after almost three years, there is not much to be found of a monorail under construction.
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dirgantara
User
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Hello people I'm new in this forum. Glad to join it.
The Jakarta monorail project is the biggest joke in this decade.
Why should they develop a seperate mass rapid transit (MRT) and monorail.
Sticking to one integrated technology is lot more feasable for both the city government and for example state company PT INKA.
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dirgantara
User
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Hello people I'm new in this forum. Glad to join it.
The Jakarta monorail project is the biggest joke in this decade.
Why should they develop a seperate mass rapid transit (MRT) and monorail.
Sticking to one integrated technology is lot more feasable for both the city government and for example state company PT INKA.
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dirgantara
User
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Hello people I'm new in this forum. Glad to join it.
The Jakarta monorail project is the biggest joke in this decade.
Why should they develop a seperate mass rapid transit (MRT) and monorail.
Sticking to one integrated technology is lot more feasable for both the city government and for example state company PT INKA.
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