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

  • International Road Safety Awards: the winners
    March 4, 2019
    Road accidents are a major blight on the world’s highways - but some companies are attempting to stem the tide. David Arminas reports on the annual Prince Michael International Road Safety Awards
    Read More
  • Contract wins for Sensys Traffic
    July 11, 2013
    Sensys Traffic and the Swedish Transport Administration have signed multi-year contracts estimated to be worth up to US$82.5 million, and at least US$16.5 million for the delivery of monitoring systems and roadside cabinets for traffic safety cameras. Sensys won procurement contracts for measurement systems and measurement cabinets earlier this year. The procurement process was appealed, but following a subsequent decision of the Administrative Court, Sensys and the Swedish Transport Administration have now
    Read More
  • Vinci Autoroutes extends Q-Free contract
    November 7, 2014
    The largest highway operator in Europe, French highway concessionaire Vinci Autoroutes has extended its frame agreement for tags with Q-Free with an order estimated to be a minimum of US$4.2 million. The contract will be fulfilled within 2016, with an option for further extension. “Q-Free has been present in the French market for many years. We are very pleased to receive this extension of the frame agreement with this important customer. During the delivery period, Q-Free will be able to introduce new e
    Read More
  • Use of ITS technology grows more prevalent in safety applications
    January 30, 2012
    Transportation agencies and governments are using ITS technology to protect critical infrastructure from terrorist attack and other threats to economic security and public safety. Andrew Bardin Williams reports. It is no secret that we live in a potentially dangerous world. Terrorism as seen on 9/11 in the United States, subsequent attacks in London, Moscow and Madrid and other acts of violence across the developing world have made vigilance the watchword for ensuring security. Key infrastructure is now bei
    Read More

Highlighted Content