The Indonesian Chamber of Commerce and Industry (Kadin) and its Japanese counterpart, Keidanren, are ready to begin building the Jakarta-Surabaya fast train track in 2014, a Kadin executive said on Wednesday.
Kadin deputy chairman for trade, distribution and logistics, M. Natsyir Mansyur said after a discussion on railway transportation, that the project could only start after the government completed the construction of the double track between Jakarta and Surabaya.
“The fast train can reduce the Jakarta-Surabaya journey to just four hours and the railway will use the doubletrack that is targeted for completion in 2013,” Natsyir said.
He said Kadin hoped to hold a 51 percent majority in the venture with Keidanren, but so far the share ownership and the total investment value had not yet been determined.
Keidanren said it was interested in the project because of the bright potential of the railway business, he said.
Meanwhile, the construction of the Trans Sumatra railway track that is connecting several segments of railway tracks on the island is expected to begin in five years, the director for railway facilities at the transportation ministry, Sugiadi Waluyo, said.
“We are still conducting a study related to the Trans Sumatra railway track. This project will be built using a public private partnership scheme,” Sugiadi said, adding that the government was currently looking for investor interested in taking part in the project.