President of the Republik Indonesia, Joko Widodo attended the groundbreaking ceremony of High Speed Railway (HSR) Project, a collaboration of Indonesia – China for the Development of Economic Growth Corridor Jakarta – Bandung Mandalawangi Maswati Tea Farm, Cikalong Wetan, Kabupaten Bandung Barat, Thursday (21/1).
The High Speed Railway (HSR) Project, a joint venture between Indonesia – China, and the Development of Economic Growth Corridor Jakarta – Bandung is the follow up action from Presidential Decreee (Peraturan Presiden / Perpres) No. 107/2015 on Acceleration of Development for Infrastructure of High Speed Rail between Jakarta and Bandung dated October 6th, 2015.
PT Kereta Cepat Indonesia China (KCIC), as the Consortium between PT Pilar Sinergi BUMN Indonesia and China Railway International, will be responsible to develop and build high speed train services for Jakarta – Bandung route. Shares of KCIC is divided into 40% of China Railway International and 60% of PSBI, which is a collaboration between PT WIJAYA KARYA (Persero) Tbk. (WIKA) with 38% shareholding composition; PT Kereta Api Indonesia (KAI-25%); PTPN VII (25%) dan PT Jasa Marga (Persero) Tbk. (JSMR-12%). This project is planned to be conducted for 36 months for the construction stage until the end of 2018 and is expected to be operational on 2019.