Southeast Asia's First YHT to Bring 18 Billion Dollars of Yield

guneydogu asia's first yhtsi billion dollars return will provide
guneydogu asia's first yhtsi billion dollars return will provide

The Indonesian-Chinese consortium is building a high-speed train (YHT) line between the Indonesian capital Jakarta and the textile center Bandung. According to the official statement, satellite cities and industry centers along the train line will be expected to yield 18 billion dollars.

The project, which is part of Beijing's Belt and Road Initiative (KYG) to connect China, Asia, Europe and other countries, was described as "Southeast Asia's first YHT" by China's Ambassador to Indonesia Xiao Qian last month. .

There was a delay of up to three years in laying the tracks, due to the legal objections of the landowners. But in 2018, the business started with a $ 4,5 billion loan from China's Development Bank.

On the Indonesian side of KYG projects, public institutions such as WIKA act as investors. On the other hand, Indonesia owns 60 percent of the line through state rail company KAI; The Chinese side owns the rest through the China Railway Engineering Corporation (China Railway Engineering Company).

WIKA's CEO stated that 15 percent of the line is finished and that 2019 percent will be completed by the end of 60. Observers say it is planned to establish four new cities and industrial centers "in Chinese way" along the YHT line. It is noted that this is similar to China's general model of urban building.

An old tea plantation, previously visited by Reuters correspondents, will be transformed into a brand new city with a new university campus, covered with high blocks covering the 5.000 hectare.

Chinese and Indonesian officials say the success of this project will set a benchmark for future infrastructure collaboration. Ministry of Foreign Affairs of China sözcü“This project is the main project in terms of mutual benefit and cooperation between China and Indonesia, and will help support local economic and social development,” says one of them.

Indonesia's Vice President Yusuf Kalla recently went to the KYG Forum in China to lead a delegation, where he made deals with Chinese companies on infrastructure projects worth $ 91 billion.

Source: China International Radio

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