Indonesian Firm Buys Stake in Sumatra Rail Project

26 April 2010 (Last Updated April 26th, 2010 18:30)

Indonesia's Rajawali group has acquired an 80% stake in the $1.3bn Sumatra railway project from Transpacific Group. The deal is expected to facilitate Indonesian infrastructure and commodity-related projects, according to Reuters. Bukit Asam's consortium has recently sought suppor

Indonesia's Rajawali group has acquired an 80% stake in the $1.3bn Sumatra railway project from Transpacific Group.

The deal is expected to facilitate Indonesian infrastructure and commodity-related projects, according to Reuters.

Bukit Asam's consortium has recently sought support from two China-based private equity funds to partly fund the Sumatra railway.

The Indonesia-based company is looking for partnership with Rajawali to work on the rail projects.