MRT budget forecast to increase

JAKARTA. The project costs for the mass rapid transit (MRT) system are forecast to increase by Rp 500 billion (US$38 million) due to delays in land acquisition.

Financial and Asset Management Board (BPKAD) head Heru Budi Hartono said the Rp 500 billion would be covered by the city administration and the central government.

The construction of the first phase of the MRT track is funded by a ¥125 billion (US$1.03 billion) grant and soft loan from the Japan International Cooperation Agency (JICA) and another ¥15 billion from the city budget. Heru added that plots of land on Jl. Fatmawati in South Jakarta had yet to be acquired.