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International law firm Ashurst is acting for China Development Bank on an approximately US$4.5 billion financing for the Jakarta-Bandung High Speed Rail Project. The loan agreement was signed at a ceremony witnessed by the Chinese and Indonesian Presidents during the recent "Belt and Road Forum for International Cooperation" in Beijing.

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This landmark project is one of the largest Indonesian infrastructure projects and the first high speed railway project in Indonesia. It is also one of the highest profile exports of Chinese high speed rail technologies and products, and is seen by the Chinese government as a pilot project for its Belt-and-Road Initiative.

The matter was led by Chin Chuan Chen (partner) with the assistance of Emma Zhang (counsel), Jillian Soh (associate) and Wang Hao (trainee). Specialist rail advice was provided by Lee Macdonald (partner), Simon Irvine (partner) and Philippa Hinton (associate). Indonesian law advice was provided by our associated Jakarta Office, Oentoeng Suria & Partners with the team led Atik Susanto (partner), Ira Rakhmawati (senior associate), Rizaldy Tauhid (senior associate), Juliana Sandra (associate) and Ernita Rahmawati (associate). Chinese law advice was provided by Fan Lei (partner), and Lei Zhen (associate) of our alliance partner Guantao Law Firm. The Beijing Ashurst team including Patrick Phua (partner), Cui Yichen (senior associate), Tracy Wang (associate) and Mavis Huang (associate) also assisted. Other team members include Terence van Poortvliet (partner), Ronnie King (partner), Rob Palmer (partner), Jean Woo (partner), Jonathan Turner (senior associate), Bernice Chow (senior associate), Alina Fazal (associate) and Michael Weatherley (associate).

Hadiputranto, Hadinoto & Partners is acting for the Borrower.

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