Waskita Seeks Bank Financing for Palembang LRT Project
![The share price of listed state-owned construction company Waskita Karya and its peers were down on the Jakarta Stock Exchange on Tuesday (20/02), after the government announced a temporary halt on all construction projects following an accident at one of Waskita's construction sites in East Jakarta. (JG Photo/Yudhi Sukma Wijaya)](https://img2.beritasatu.com/cache/jakartaglobe/960x620-3/2015/11/waskita_1.jpg)
Jakarta. State construction firm Waskita Karya is looking for a bank loan of up to Rp 3 trillion ($219 million) to help finance a light rail transit project in Palembang, South Sumatra, hosts of the 2018 Asian Games.
The Rp 5 trillion project, commissioned by the Transportation Ministry, will connect Sultan Mahmud Badaruddin II International Airport to the city center and Jakabaring sport complex ahead of the Games.
Waskita won the construction project earlier this year and has scheduled it for completion by December 2017, the company's finance director Tunggul Rajagukguk said in a recent interview.
The firm has outstanding contracts worth Rp 31 trillion, Tunggul said.
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