China Railway Construction Corp to form JV with Indonesia's Wijaya Karyato for $5.5b HST

The China Railway Construction Corp Ltd (CRCC) will team up with a consortium of Indonesia’s state own enterprises (SOEs) led by PT Wijaya Karya Tbk (IDX : WIKA) in developing the first High Speed Train (HST) in the country.

The joint venture (JV) entity and the financing scheme of the project is expected to be closed in October. According to State Enterprise Minister Rini Soemarno, the project cost is estimated to reach Rp 80 trillion ($5.5 billion).

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