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

  • ITS in Taiwan
    January 20, 2012
    In June, ITS Taiwan will host the 11th ITS Asia Pacific Forum and Exhibition. Dr. Bert J. Lim, president of the World Economics Society and a member of the local organising committee, provides an insight to ITS development in the country. Many of the thought-provoking issues he raises could be applied equally to most countries around the world. Governments need to assume a far greater leadership role, not just in ITS R&D, but also ITS deployment. In the case of Taiwan, it is time for the Ministry of Transpo
    Read More
  • ITS in Taiwan
    February 6, 2012
    In June, ITS Taiwan will host the 11th ITS Asia Pacific Forum and Exhibition. Dr. Bert J. Lim, president of the World Economics Society and a member of the local organising committee, provides an insight to ITS development in the country. Many of the thought-provoking issues he raises could be applied equally to most countries around the world
    Read More
  • Machine vision makes progress in traffic applications
    June 2, 2014
    Machine Vision technology is easing the burden on hard-pressed control room staff and overloaded communications networks.
    Read More
  • AV/ridesharing mix wins major auto investment
    May 5, 2016
    The US has a new trend in personal mobility and David Crawford takes a closer look. US automaker General Motors and ridesharer Lyft’s announcement of a strategic partnership aimed at delivering, over time, an integrated network of on-demand autonomous as well as conventional vehicles has taken the nation’s car industry from traditional manufacturing to new arenas.
    Read More

Highlighted Content