The Makassar-Parepare railway project has reached financial closure through a public-private partnership (PPP) scheme. A financing agreement was signed between PT Celebes Railway Indonesia (CRI) and PT Indonesia Infrastructure Finance (PII), PT Sarana Multi Infrastructur (Persero) and PT Bank Syariah Indonesia. Under the term of the agreement, the project received a loan of IDR693,83billion (US$48.60 million), which will be used in two installments.
The first part will finance the construction, testing and completion of the Garongkong Port Station as part of the segments B and F of the rail line. The second part will be used mainly to finance interest during the entire construction period.
The project involves the development of a railway section from Makassar to Parepare on the island of Sulawesi in Indonesia. The railway will have a length of 142 km and will be divided into 6 segments: A, B, C, D, E and F.
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April 29, 2021
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