Kekar Thames get loans

Kekar Thames get loans

BRUSSELS (Dow Jones): The European Investment Bank said yesterday it had loaned 45 million European currency units (XEU) to PT. Kekar Thames Airindo for upgrading and extending the water supply transmission and distribution system in eastern Jakarta.

The loan represents about 21 percent of the total costs of the project to be developed over the next five years and is mainly aimed at improving the water distribution systems, the EIB, the European Union's long-term financing institution, said in a communique.

The project will increase the supply of potable water to 70 percent of the area's population, up from 52 percent. The investment also will be used to reduce losses due to leakage and soil subsidence caused by over-pumping from private wells, the EIB said.

PT. Kekar Thames Airindo is managed by the UK's Thames Water Overseas Ltd.

EIB finance in support of water supply infrastructure in Jakarta totals XEU100 million.