State-owned train manufacturer Industri Kereta Api will procure the trains with SMI and Bank ICBC Indonesia, the domestic subsidiary of China's ICBC, providing the funds. ICBC Indonesia's president Mr Shen Xiaoqi says the agreement is an important milestone for the lender as it looks to fund a series of Indonesian infrastructure projects.
A Rs 2 trillion ($US 150m) loan was secured last year to help fund the Rs 2.5 trillion project. This involves constructing a 12km double-track branch line, which will diverge from the Jakarta - Tangerang commuter line near Batu Ceper station before turning north towards the airport.
The new line is expected to carry 57,600 passengers per day when it opens in 2017. Services will link the airport with Tanah Abang in central Jakarta and Manggarai in the south of the city utilising the existing 20km alignment, with a one-way fare of Rs 100,000. A new express service linking Soekarno-Hatta and Halim Perdanakusuma Airport is expected to start in 2019.
