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Dubai bank to fund Jakarta's first monorail |
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2/17/2006 7:33:54 AM |
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Dubai Islamic Bank has agreed to fund the Indonesian capital's first monorail project.
Jakarta's Governor Sutiyoso says the Dubai Bank will provide $US500 million to finance the project.
Governor Sutiyoso says the monorail project should be completed soon, but contractors will need to work night and day.
A director for PT Jakarta Monorail, Sukmawati Syukur, confirmed the agreement.
The the 27-kilometre monorail project was inaugurated in June 2004 but work has been hampered by a lack of money and disputes over what technology to use.
Two lines will serve Jakarta's business districts and outer areas, and are expected to carry up to 270,000 passengers a day.
The first line is supposed to be completed by 2007.
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