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Jakarta, February 1, 2024 - Indonesian Export Financing Institution (Lembaga Pembiayaan Ekspor Indonesia or LPEI), also known as Indonesia Eximbank, as Special Mission Vehicle under the Ministry of Finance of Indonesia, has provided financing and guarantees to PT INKA Multi Solusi (IMS), a subsidiary of PT INKA (Persero), to produce a hundreds of flat top container freight (CFT) wagons ordered by UGL Australia and operated by Kiwi Rail as the user in New Zealand.
LPEI granted a total facility of USD 11.9 million to IMS, comprising a financing facility of USD 7.7 million and a guarantee facility of USD 4.2 million. This support extended to the national strategic industry to enhance competitiveness in the global market, through the National Interest Account (PKE) Transportation Equipment (ATP) scheme, as the Minister of Finance Decision (KMK) No. 406/2021, year 2021.
Maqin U. Norhadi, Executive Director of Business Development LPEI, stated that LPEI's solution through the PKE Transportation Equipment program aims to encourage the competitiveness of Indonesia's strategic industry products globally. This export achievement is a source of pride for Indonesia, show the successful production of high-quality and valuable train cars, earning the trust of other countries in various strategic industrial products from Indonesia.
"LPEI provide to support the strategic transportation equipment industry PT INKA (Persero) and IMS, a manifestation of the country's presence through the Ministry of Finance of the Indonesia through LPEI, to encourage strategic industries and work up Indonesia's exports. This achievement will undoubtedly enhance Indonesia's as a producer country world-quality train cars," said Maqin.
Maqin added that in addition to encouraging foreign exchange receipts, this support is expected to stimulate an export ecosystem capable of creating developmental impact and sustainable business.
I Gede Agus Prayatna, Director of Operations at PT INKA (Persero), affirmed that as state-owned enterprise (BUMN), PT INKA (Persero) will continue to come forward to produce quality train products and meet the needs and expectations of customers. The order from UGL Australia will contribute to PT INKA (Persero)'s sustainable and best contributions to Indonesia's economy.
"This proves that INKA group can contribute international, especially to quality-sensitive markets. We believe that the New Zealand market has a significantly high level of quality sensitivity," said I Gede Agus Prayatna.
PT IMS received an order for 450 CFT freight cars worth USD 17 million from UGL Australia. The first batch of 60 flatbed units shipped to New Zealand on January, 31th 2024. IMS-manufactured flatbeds for UGL Australia are underframes without bogie and coupler component installations. The general specifications of the freight cars are divided into two types, 40ft and 50ft sizes, designed by UGL with an empty weight of approximately 15.2-17.2 tons and a maximum payload of 62.9 tons. The freight cars are shipped from the Port of Tanjung Perak, Surabaya, to Port Chalmers, New Zealand.
LPEI's support for the national strategic industry through the PKE program has reached IDR 1.1 trillion. Specifically for PKE Transportation Equipment, LPEI has provided financing and guarantees of USD 55.9 million to PT Dirgantara Indonesia to support the procurement project of 6 NC212i aircraft ordered by the Department of National Defense/Armed Forces of the Philippines (DND/AFP). In addition to Beyond Financing support, LPEI has also provided financing and guarantees to PT Nusantara Turbin Propulsi (PT NTP) to support aircraft maintenance contracts, with a total facility of approximately USD 1.46 million.
"This is a concrete manifestation of LPEI in implementing the National Interest Account (PKE) program mandated by the Government as a form of utilizing the state to promote national exports. LPEI will continue to commit to supporting strategic projects to drive national economic growth, increase foreign exchange earnings, and bring Indonesian products boldly onto the world stage," said Maqin.
Media's Liason
Chesna F. Anwar
Corporate Secretary – Lembaga Pembiayaan Ekspor Indonesia
Ph. : (021)39503600
Email : corpsec@indonesiaeximbank.go.id
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