State-owned railway operator PT Kereta Api Indonesia (KAI) plans to generate Rp2 trillion from its second corporate bond issuance, as it seeks a sizeable amount of funds for the replacement of obsolete train cars this year. The company needs to replace about 1,000 train cars to assure better service, safety and convenience for passengers, as well as efficiency in company operational costs, according to KAI President Director Edi Sukmoro.
