Saudi investment expected for project<\/p>\n
JAKARTA (JP): The city administration expects Saudi investors
\nto channel up to US$850 million into a subway or triple-decker
\nroad and railway project that is hoped will ease traffic woes.<\/p>\n
Governor Sutiyoso said at City Hall on Thursday he had read
\nabout the possible investment in the city's road system, and was
\nhopeful the investors would soon realize the plan.<\/p>\n
\"If it is true, we hope that the money can be used for the
\nsubway or triple-decker project, which are really needed by the
\ncity,\" Sutiyoso said.<\/p>\n
Presidential spokesman Yahya C. Staquf said on Wednesday that
\nSaudi Arabian investor Albandari Abdul Azis planned to invest
\n$850 million for a road network project in the capital.<\/p>\n
\"President (Abdurrahman Wahid) has asked Minister of
\nSettlement and Regional Infrastructure Erna Witoelar to take care
\nof the investor,\" Yahya said.<\/p>\n
Sutiyoso said he had not been consulted or informed about the
\npotential investment. Nevertheless, he said he hoped Erna would
\nsoon invite the city administration to join discussions on the
\nproject.<\/p>\n
\"I hope we will be invited to discuss the project, if it's
\nreally true. We're really surprised about this news,\" he said.<\/p>\n
Separately, City Council deputy chairman Djaffar Badjeber said
\nhe heard about the potential investment directly from the Saudi
\ninvestors.<\/p>\n
\"The businessmen told me that they wanted to invest here, but
\nIndonesia seemed to be interested only in inviting investors from
\nAmerica or Japan,\" Djaffar, who is a member of the United
\nDevelopment Party (PPP), said.<\/p>\n
He said the businessmen wanted to help Indonesia, which has
\nthe largest Muslim population in the world.<\/p>\n
Nevertheless, the investors want the central government to
\nsimply the investment regulations and make them consistent, he
\nsaid.<\/p>\n
Djaffar said if the road network project was realized, it
\nshould be conducted through an open tender, adding that the
\ncouncil should be involved in discussing the project.<\/p>\n
\"Since it deals with the interests of the general public, the
\ncouncil should be involved,\" he said.<\/p>\n
The city administration has for some time planned to build a
\n$1.5 billion subway system running from Fatmawati in South
\nJakarta to Kota in West Jakarta.<\/p>\n
It signed a memorandum of understanding in 1995 with the
\ncentral government and an Indonesian-Japanese-European consortium
\nto build subway.<\/p>\n
The consortium included Japanese companies led by Itochu
\nCorp., European firms led by Ferrostaal AG of Germany and
\nIndonesian firms led by PT Citra Lamtorogung, PT Bukaka Teknik
\nUtama, PT Bakrie Investindo, PT Pembangunan Jaya, PT Lippo, PT
\nSuhamthabie and PT Steady Safe.<\/p>\n
The basic design of the project was completed in 1996. But
\nwhen the economic crisis struck the country in the middle of
\n1997, the project was put on the back burner, along with several
\nother large projects in the country. (jun)<\/p>",
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"sponsor": "Okusi Associates",
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