China to build US$5.5 billion high-speed rail line in Indonesia
Line from Jakarta to Bandung part of move to spur growth by building infrastructure
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Jakarta
CHINA won the rights to build a US$5.5 billion railway line in Indonesia as the South-east Asian nation tries to upgrade its infrastructure to drive economic growth.
China Railway International Co Ltd and a consortium of Indonesian state companies will build the rail line from Jakarta to Bandung, and plan to compete for other projects in the region, Sahala Lumban Gaol, chairman of the joint venture, said on Friday in Jakarta. Three-quarters of the funding will come from China Development Bank, and the project will not carry an Indonesian state guarantee, he said.
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