Friday, October 22, 2010

Govt Plans on Trans-Sumatra Railways



A cabinet meeting on Thursday, Oct 21, finally announced its plan to develop ports, trans-Sumatra railway system, and Sumatra toll roads. "The projects will need an estimate of US$60 billion of fund, which will also be used to finance the MRT system," said Coordinating Minister for the Economy, Hatta Rajasa.

Sumatra and northern area of West Java, said Hatta, is one of the corridors of Indonesian Economic Development, in addition to other areas such as east northern coast of Java, Kalimantan, Sulawesi, Papua and eastern Java as well as Bali and Nusa Tenggara.

The area-based development concept focuses on how to build new economic centers in every Indonesian region. "The President demands that the concept is finalized within three months," said Hatta.

"The corridors are designed based on a region's potentials," said Hatta. The development of the corridors will be called two-phase Mid- to Long-term Development taking place between 2010-2014 (first phase) and 2015-2025 (second phase).

"Given the new area-based development centers, our economy will be accelerating," said Hatta.

Meanwhile, there will be evalution toward the existing special economic zones. "The proposed areas will be integrated," said Hatta.

Despite making use of the State Budget to finance the projects, private-public companies and provincial budget will be optimized. "The State Budget may allocate fund, but it will not be the primary source," said Hatta.


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