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Economy

Indonesia to use Japan loans and private capital for $4.5bn railway

Spending limits force Jakarta to seek alternative infrastructure funding scheme

A Japanese-made railway car for Jakarta's Mass Rapid Transit is delivered on April 5. Indonesia will also seek Japanese funding and private sector involvement for a railway project stretching across Java.   © Getty Images

TOKYO -- Indonesia will seek funding from the Japanese government and private sector for a $4.5 billion railway project stretching across the island of Java.

Basuki Hadimuljono, Minister of Public Works and Public Housing, told Nikkei on Friday that the project involved upgrading 750km of existing track on the Jakarta-Surabaya line and building around 300 flyovers at an estimated cost of 62 trillion rupiah ($4.46 billion), which will be financed by Japanese loans.

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