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Risk Analysis on Conceptual Design of Soekarno – Hatta International Airport Rail Link Project Using Value Engineering Rahman, Herawati Z.; Berawi, Mohammed A; Susilowati, Suci I.; Miraj, Perdana; Petroceany, Jade S.
CSID Journal of Infrastructure Development Vol 1, No 1 (2015)
Publisher : Universitas Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32783/csid-jid.v1i1.12

Abstract

The Soekarno-Hatta International Airport Rail Link (SHIARL) project is arguably one of the best solutions to reduce uncertainty in travel time and to improve accessibility to and from Soekarno-Hatta International Airport. Due to low feasibility assessments, the private sector is holding back on their investment for this mega project infrastructure; therefore, a comprehensive study is required to improve project return on investment attractiveness. This study mainly identifies major risks and mitigation strategies by combining Value Engineering (VE) and Risk Management (RM). Questionnaire surveys and risk analysis will be used to respond to the research objectives and the analysis will be presented in the methodology section. The VE process produces additional functions as the integration of the MRT line, the Flood Control Tunnel (PRASTI), the Rail Link and infrastructure utilities which are expected not only to solve transportation problems, but also flood control problems in Jakarta. On the other hand, the RM process points out route selection error as a major risk that has to be mitigated for a successful project.
Sharia – Compliant Instruments as Innovative Financing for Transportation Infrastructure Development in Indonesia Dikun, Suyono; Lamari, Fiona; Rarasati, Ayomi D.; Rahman, Herawati Z.; Anggraeni, Devy
CSID Journal of Infrastructure Development Vol 1, No 1 (2015)
Publisher : Universitas Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32783/csid-jid.v1i1.8

Abstract

Indonesia’s transportation development in the next 5 years is projected to be accelerated to cope with the deficit and gap that had been built up over the last two decades. A study conducted by Bappenas and JICA for the National Mid-Term Development Plan (RPJMN) 2015-2019 projected the magnitude of investment needed for the transport sector in sums up to IDR 2,500 trillion or around IDR 500 trillion per year. The state budget (APBN) had been and will always be insufficient to finance the total needs for transport investment. The innovative financing in transport development becomes very urgent given the tight fiscal allocation of Indonesia’s state budget, which is not adequate in financing infrastructure development. Indonesia needs to be innovative to find other sources of funds to finance transportation development. There are two streams: (1) to create a financing scheme based on the state budget, such as a Performance-Based Annuity Scheme (PBAS), infrastructure bonds, and shariah-based bonds (Sukuk) and (2) to create a non-state budget financing scheme to utiize domestic funds that are available domestically. The aim of this paper is to explore the possibility of Shariah-Compliant financing as a financing option for Indonesia’s infrastructure development. The methodology consists of estimating the infrastructure funding requirement in Indonesia, an understanding of Shariah-Compliant instruments in the global context, and lessons learned from other countries who who have applied Shariah-Compliant instruments for their infrastructure projects.