China Railway won Indonesia's 50 year operating privileges

In March 16th, the Indonesian Ministry of transportation and Indonesia Masakazu high iron joint venture company signed a 50 year concession agreement in Indonesia, Jakarta, which is following the January 21, 2016 Indonesia new million high iron project groundbreaking, China railway company in the new progress obtained in the course of the project, which marks the new million high iron full construction important legal protection.

In Indonesia the beginning of last March to build new million high iron talks last October signed an agreement for the formation of new million high-speed rail project joint venture.

The Indonesian Minister of transport in the south the agreement signing ceremony, Masakazu high iron joint venture company in January this year the high iron started after less than two months time to get a franchise, the speed is much higher than that of other railway projects in indonesia. At the same time, this is the first time that the Ministry of transport has given the franchise to a foreign-owned enterprise.

It is reported that the provisions of the agreement, the Indonesian Ministry of transportation Masakazu high iron franchise, given the China consortium by Chinese railway company and VEKA company led Indonesia Indonesia led consortium formed state-owned high iron new million joint venture company. The franchise will begin in May 31, 2019 for a period of 50 years.

In addition, the total cost of the project is estimated to be 5 billion 135 million dollars from the previous 5 billion 500 million dollars, and the joint venture company must complete the construction within 3 years after the issuance of the license.

A project of high iron new million total length of 142 kilometers, connecting the Indonesian capital of Jakarta and the fourth largest city in Bandung, the maximum design speed of 350 km, 3 years of completion. By then, Jakarta Bandung to drive more than 3 hours will be shortened to 40 minutes now.

This is the first by the government set up the stage, the two companies of enterprise cooperation in construction and management of railway project, and China high-speed railway from technical standards, survey and design, construction, equipment manufacturing, material supply, operation management, personnel training, comprehensive development along the whole to go out of the first single the project, to promote the China railway especially high-speed rail to go out, has an important demonstration effect.

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