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

  • TEXpress adds reversible managed lanes
    April 19, 2017
    Land availability restrictions and tidal traffic flows have led to the implementation of a novel managed lane configuration in Texas, as Colin Sowman finds out. Dealing with traffic congestion related to the ‘tidal flows’ caused by large numbers of commuters making their way into major business hubs in the morning and returning to the suburbs in the evening, has seen the widespread use of adaptive signal timing and even reversible lanes.
    Read More
  • Q-Free awarded toll tag contract in Russia
    August 23, 2017
    Q-Free has recently signed a three-year framework agreement to supply toll tags to Northern Capital Highway, a toll operator in St. Petersburg, Russia. The agreement has a total value of approximately US$1.4 million (NOK11 million) over the period. According to Q-Free, the tag market in Russia has been picking up over the last years and the company has received orders from several customers, although the framework agreement with Northern Capital Highway is the largest single agreement for Q-Free in Russi
    Read More
  • Developing an integrated WIM/ANPR enforcement system
    July 31, 2012
    The weigh in motion market remains especially buoyant and technological development continues to reflect this. Although there are major differences in operating philosophies, particularly between developed and developing countries, both the numbers of countries using Weigh In Motion (WIM) technology and the numbers of systems that they deploy are on the increase.
    Read More
  • Siemens influences congestion reduction
    March 12, 2021
    When it comes to reducing congestion, even relatively small interventions can have significant and positive knock-on effects, suggests Steve O’Sullivan of Siemens Mobility
    Read More

Highlighted Content