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

  • Mounting benefits of dynamic tolling project
    January 30, 2012
    Wisconsin's four-year HOT lanes pilot project, launched in May 2008, cost US$18.8 million to construct. Halfway into the project, which uses variably priced, or dynamic, tolling to improve highway efficiency, the benefits are mounting. The problem was obvious, and frustrating, to anyone who ever sat in bumper-to-bumper traffic on State Route 167 and watched a lone car whiz by every 20 seconds or so in the carpool lane. But for planners at the Washington State Department of Transportation, the conundrum was
    Read More
  • Serco extends transport contracts in Hong Kong
    June 7, 2013
    UK group Serco has won the contract to operate and maintain toll roads in Hong Kong as it looks to push further into the transport sector. Beginning in September, the contract is worth US$123 million over a minimum six-year base period to manage, operate and maintain the Tsing Sha Control Area of toll roads. Serco has been contracted to engage in toll collection, controlling and regulating traffic, vehicle recovery and rescue, patrols and handling of incidents. The contract also covers scheduled works inclu
    Read More
  • Real time GPS tracking on school buses drives efficiencies
    January 25, 2012
    Application of real time GPS tracking to school buses is driving operational efficiencies and allowing parents to follow their childern's movements, report Jason Barnes
    Read More
  • The path to safer roads: America can learn from Europe’s example, says Verra Mobility
    May 1, 2024
    Many US states are establishing road safety programmes that will inspire others. TJ Tiedje, vice president commercial at Verra Mobility, explains why this is important
    Read More

Highlighted Content