Tuesday, 25 June 2024

KWS signs financing deal with ADB, DBS for Karian-Serpong water supply system

5 min read

PT Karian Water Services (KWS) signed a common terms agreement with the Asian Development Bank, PT Bank DBS Indonesia (DBS) as covered lender for Export-Import Bank of Korea (KEXIM), and the International Finance Corporation, during the 10th World Water Forum.

The signing of the financing agreement is a follow-up to the public private partnership agreement for the Karian-Serpong Regional Water Supply project which was announced in 2021 between KWS and the Ministry of Public Works and Housing, as the government contracting agency. DBS also acted as the financial advisor to KWS.

The total project cost is estimated to be around IDR 3.4 trillion ($212 million) and is the first blended finance scheme in Indonesia’s water sector, setting an important precedent for future water sector projects in Indonesia.

KWS is a special purpose vehicle formed by a consortium of Korea Water Resources Corporation and PT Adhi Karya (Persero) Tbk. KWS has a 35-year concession to build a water treatment plant with a processing capacity of 4,600 litres per second. When fully operational, the plant will provide easy access to clean and safe drinking water to millions of residents in Jakarta City, Tangerang City and South Tangerang City.

Re-disseminated by The Asian Banker

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