Jakarta – PT Adhi Karya (persero) Tbk (ADHI) is seeking private sector funding to advance construction of the Phase II Light Rail Transit (LRT) project connecting Cibubur and Bogor. This move follows the triumphant completion and operation of the Jabodebek Phase I LRT, currently serving routes between Cawang-Cibubur, Cawang-Dukuh atas, and East Cawang-Bekasi.
According to Adhi Karya President Director Entus asnawi,discussions are underway with the Directorate General of Railways at the Ministry of Transportation (Kemenhub) and PT Kereta Api Indonesia (KAI) to secure the necessary capital. The Jabodebek Phase II LRT project is authorized under Presidential Regulation (Perpres) Number 98 of 2015.”As this is a Perpres, we have also discussed with the Director General of Railways. We are jointly looking for funding solutions for the construction of the second phase, involving funds outside the government to work together with KAI,” Entus stated during a virtual public expose on Monday (September 8, 2025).
Adhi Karya was assigned the construction of the Jabodebek LRT in two phases through the aforementioned Perpres. Currently, 44 km of the LRT is operational, representing a project value of Rp 25.5 trillion. However, the company has only received Rp 23.3 trillion in state Capital Participation (PMN) for Phase I, leaving a Rp 2.2 trillion balance owed by the government.
“The first stage of 44 kilometers that we have built and operate at this time is Rp 23.3 trillion. But at that time there was still a lack of funds,” entus explained.
Adhi Karya Finance Director Bani Iqbal anticipates resolving the outstanding government receivables related to the Jabodebek LRT project by the end of the year,acknowledging that these receivables constitute the company’s largest outstanding balance.”The biggest receivables at this time are from the LRT, which is still in the process of discussion with KAI, Ministry of Finance, and also and between them for its completion. the target can be completed as soon as possible later this year,” Bani said.