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

  • New system expedites border crossings
    October 28, 2016
    Enforcing border controls can create long queues for travellers, David Crawford looks at potential solutions. Long delays at border crossings in both North America and Europe have sparked the development of new queue visualisation and management technologies that are cutting hours, even days, off international passenger and freight journeys. At the westernmost end of the 2,019km (1,250 mile) Mexico–US frontier, two parallel crossings between Tijuana, in the former country, and the border city of San Diego,
    Read More
  • Centralised traffic control, managing changing traffic demands
    January 23, 2012
    Paul van Koningsbruggen and Dave Marples of Technolution BV describe, using a national example from the Netherlands, how smart add-ons to traffic control centres combine to increase cross-centre capabilities and cost-efficiency. Increasingly, traffic management is becoming the natural partner of the civil engineer, improving flows over existing infrastructure to deliver an alternative to laying more blacktop. As in any emerging market, the first steps towards mature traffic management have not necessarily r
    Read More
  • Q-Free wins Australian toll tag order
    February 2, 2012
    Norwegian tolling systems supplier Q-Free has been awarded a US$2.5 million order for toll tags from the Australian Roads and Traffic Authority (RTA).
    Read More
  • Iteris to provide on-call services to Federal Highway Administration
    October 8, 2012
    Iteris, US-based supplier of intelligent traffic management solutions, has been selected to provide on-call task-order based services to the US Federal Highway Administration (FHWA). Two contracts, for support services for the Office of Operations include: Operations and Intelligent Transportation Systems (ITS), and Traffic Incident and Events Management will be released over a period of up to five years. Iteris will have the opportunity to compete, with a small group of other selected providers, on each t
    Read More

Highlighted Content