Financing agreed for Q-Free Jakarta contract

Q-Free has confirmed that a loan agreement has been signed between Export Credit Norway and PT Rin Indonesia Jaya, a subsidiary of PT Inovisi Infracom Tbk, for part financing of the contract signed in 2011 for an electronic law enforcement (ELE) project. As part of the financing agreement, PT Inovisi Infracom Tbk has signed a parent company guarantee for the loan. The loan will be released upon initial payment of US$6 million to Q-Free, which will also mark the start-up of the project. The loan from Expor
July 30, 2013 Read time: 2 mins
108 Q-Free has confirmed that a loan agreement has been signed between Export Credit Norway and PT Rin Indonesia Jaya, a subsidiary of PT Inovisi Infracom Tbk, for part financing of the contract signed in 2011 for an electronic law enforcement (ELE) project.  As part of the financing agreement, PT Inovisi Infracom Tbk has signed a parent company guarantee for the loan.

The loan will be released upon initial payment of US$6 million to Q-Free, which will also mark the start-up of the project.  The loan from Export Credit Norway is the majority of the external financing of the project and represents a very important milestone in the progress towards a start-up of the project.

Under the US$169 million contract, Q-Free will deliver roadside infrastructure and tags over a two-year period, and service and maintenance over a five-year period.

The system will be based on Q-Free's tolling solutions and will be used by the Indonesian Police for traffic monitoring in the capital Jakarta (DKI) and surrounding areas (Bodetabek). It will provide a more efficient system for monitoring and control of registered vehicles in Indonesia and improve the efficiency of the local police to enforce stolen vehicles, fake number plates and security related incidents.
Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • Mega trends will challenge transport technology
    June 5, 2015
    Jon Masters investigates some of the longer term trends that will shape transportation over the next 20 years. Business analysts and investors have already placed their bets on a future of technological smart mobility services. In December last year, the Wall Street Journal reported that Uber, the on-demand taxi and lift share smartphone app and start-up business, had been valued at $41.2 billion which, as the Journal reported, is an incredible vote of confidence for a company only five years old.
    Read More
  • Temporary traffic monitoring with Bluetooth and wi-fi
    May 31, 2013
    David Crawford reviews developments in temporary ITS. Widespread take-up of technologies such as Bluetooth and wi-fi are encouraging the emergence of more sophisticated, while still cost effective, ITS responses to the traffic issues posed by temporary road situations such as work zones and special events. Andy Graham of traffic solutions specialists White Willow Consulting says: “A machine-to-machine radio link is far easier and cheaper than reading characters on a plate.” There can be other plusses. Tech
    Read More
  • Teledyne Flir brings Middle East into vision
    July 10, 2023
    As urban sprawl creeps across the Middle East and Africa, congested roads aren’t far behind. Hesham Enan of Teledyne Flir explains to Adam Hill how traffic technology is helping authorities to cope
    Read More
  • Kapsch TrafficCom wins PANYNJ toll system contract
    July 26, 2016
    The Port Authority of New York and New Jersey (PANYNJ) has awarded Kapsch TrafficCom a US$147 million contract to replace all roadside equipment in the mixed-mode, dedicated mode and express toll lanes at all bridges and tunnels managed by Authority. Under the first collaborative project between Kapsch TrafficCom and its recently-acquired Schneider Electric transportation business division, Kapsch will replace the toll collection system at PANYNJ’s bridge and tunnel facilities, as well as carry out ongoi
    Read More

Highlighted Content