JAKARTA (JP): Transportation Minister Hatta Radjasa said Tuesday that the government had invited private companies to develop properties owned by state-owned railway operators PT Kereta Api Indonesia in urban areas.
"PT KAI has great numbers of assets in its stations to be developed into valuable properties," Hatta told reporters when inspecting the progress of double track constructions from Tanah Abang in Central Jakarta to Serpong in Banten.
He said investors could develop various commercial facilities like offices, hotels, and shopping centers above railway stations in trying to boost the value of assets owned by the state owned companies.
The recent approval of railway law by the House ofRepresentatives made possible for the participations of private companies in the development of railway sector.
According to Hatta, the share of non-ticket sales to PT KAI income only reached some Rp 300 billion (US$32.97 million) annually or just 6 percent of the Rp some 29 trillion total annual income of PT KAI.
"With the development of the assets into valuable properties like shopping malls, hotels, and other commercial facilities, the share of non-ticket revenue could reach 50 percent from the totalincome of PT KAI," he added.
Speaking about the plan to develop commuter trains in the Greater Jakarta, Hatta said renovations and developments of railway facilities would continue.
He gave an example that after the development of double tracks from Tanah Abang in Central Jakarta to Serpong in Banten province complete, PT KAI would also develop double tracks from Serpong toBanten provincial town of Maja.
"The project, which needs some Rp 200 billion of fund is expected to finish in 2009," he added. (BBN)
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