What PT Train Industri does

PT Industri Kereta Api (PT INKA/Persero) is an Indonesian state-owned rolling stock manufacturer founded in 1981 and headquartered on a 22.5-hectare integrated facility in Madiun, East Java, with a secondary plant under development in Banyuwangi and a representative office in Jakarta. The company designs, engineers, and manufactures a full range of railway vehicles including diesel-electric and diesel-hydraulic locomotives, stainless steel passenger coaches (executive and economy classes), electric multiple units (KRL/EMU), diesel multiple units (KRDI/DMU), hybrid diesel-battery multiple units (KRDE), light rail transit systems with CBTC driverless capability (LRT Jabodebek, LRT SumSel), freight wagons (Well Wagon, ZZOW, PPCW, tank wagons, power cars, baggage cars), special-purpose vehicles (measurement cars, inspection trains, rescue cars, VIP cars, track motor cars), and development products including 8-meter electric buses, 18-meter articulated buses, trams, battery trams, and proprietary I-Cond railway air conditioning units. Technical differentiation includes a flood-area-capable diesel-hydraulic locomotive (DH CC 300, 1,700 kW, 120 km/h), hybrid propulsion for non-electrified regional routes, and CBTC-enabled autonomous LRT operation.

PT INKA generates revenue primarily through project-based one-time contracts with government railway operators, augmented by after-sales service and spare parts revenue and managed services through subsidiaries. The company's primary domestic customer is PT Kereta Api Indonesia (KAI), with international customers including railway operators in Bangladesh, the Philippines, Malaysia, Thailand, Singapore, Australia, and New Zealand, supplied through direct enterprise sales and international tender participation. Distribution is conducted through direct field sales domestically (anchored by the Jakarta office), direct export sales internationally, and an e-Procurement platform for supplier-side procurement. Two subsidiaries extend the service envelope: PT INKA Multi Solusi (wholly owned, total-solution construction and railway component trade) and PT Rekaindo Global Jasa (joint venture with Nippon Sharyo, Sumitomo Corporation, and Kopinka, providing engineering consulting, design, and maintenance). PT INKA is owned by the Government of Indonesia through PT Danantara Asset Management following the 2025 sovereign wealth fund restructuring and maintains ISO 9001 certification from ABS Quality Service USA since 1996.

Name

PT Train Industri

Legal name

PT Industri Kereta Api (Persero)

Website

https://inka.co.id

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Industri Kereta Api (PT INKA) is an Indonesian state-owned integrated rolling stock manufacturer producing locomotives, passenger coaches, LRT, DMU, freight wagons, and special railway vehicles, serving domestic operator PT KAI and government railway operators across seven export markets.

Ownership category

akta.pro rank

Product category

Railway Rolling Stock Manufacturing

NAICS

Railroad Rolling Stock Manufacturing (3365), Other Transportation Equipment Manufacturing (33699)

SIC

Railroad Equipment (3743)

akta.pro primary industry

Traction Motor, Generator & Electrical Rotating Equipment Repair (TLAKAIAE)

akta.pro secondary industry

Bus Body & Coachbuilder / Bus Body Assembly (IMACADAH)

Keywords

• Railway rolling stock manufacturing
• Locomotive and passenger coach production
• Freight wagon manufacturing
• Light rail transit systems
• Railway vehicle engineering

Headquarters

HQ city

Madiun

HQ country

Indonesia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Railway Vehicle Manufacturing: Design, manufacture, and sale of locomotives, passenger coaches, freight wagons, and special railway vehicles to domestic and international railway operators. Products include diesel-electric locomotives, diesel-hydraulic locomotives, LRT, KRL, DMU, DEMU, and freight wagons. Revenue generated through one-time purchase contracts and project-based orders from government railways.
2. After-Sales Service and Spare Parts: Provision of maintenance services, spare parts, and after-sales support to ensure customers receive products with optimal quality throughout the product lifecycle.
3. Subsidiary Services: PT INKA Multi Solusi provides Total Solution Provider services in construction and trade of railway components. PT Rekaindo Global Jasa provides engineering consulting, design, and railway maintenance services.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

PT INKA is an integrated railway rolling stock manufacturer that designs, engineers, and produces locomotives (diesel-electric and diesel-hydraulic), stainless steel passenger coaches (executive and economy classes), self-propelled multiple units (LRT with autonomous CBTC operation, EMU/KRL, KRDE hybrid units, DMU/KRDI, Railbus), freight wagons, and special railway vehicles for government railway operators and mass transit authorities. The company also offers after-sales service, spare parts, and engineering consultancy through its subsidiaries, supported by ISO 9001 certified quality management since 1996.

Product overview

PT Industri Kereta Api (PT INKA) is the first integrated state-owned railway manufacturing company in Southeast Asia, producing a comprehensive portfolio of railway rolling stock and related transportation products. Its core product portfolio spans six main categories: (1) Lokomotif — diesel-electric and diesel-hydraulic locomotives exported to the Philippines; (2) Kereta Penumpang — passenger coaches in executive, economy, and export (Bangladesh Railway) classes, featuring stainless steel new generation designs with speeds up to 120 km/h; (3) Kereta Berpenggerak — self-propelled rolling stock including Light Rail Transit (LRT Jabodebek driverless via CBTC, LRT SumSel), KRL/EMU, KRDE Sulawesi Selatan with hybrid diesel-battery propulsion, Railbus, and KRDI diesel multiple units; (4) Gerbong Barang — freight wagons including Well Wagon (exported to Singapore, 41,000 kg capacity), ZZOW open wagon (38 m³, 80 km/h), PPCW flat wagon, power cars, oil tank wagons, and baggage cars; (5) Kereta Khusus — special vehicles including track measurement cars, inspection trains, rescue cars, VIP/official cars, and Track Motor Cars for track maintenance; and (6) Produk Pengembangan — non-railway development products including articulated electric buses, E-Inobus battery buses, tram movers, battery trams, and INKA Railway Air Conditioning (I-Cond) components. Products are manufactured at facilities in Madiun (headquarters on 22.5 hectares) and Banyuwangi, with exports to Australia, Thailand, Malaysia, Bangladesh, the Philippines, Singapore, and New Zealand.

Differentiator

Problem solved

Functional benefit

Products and services

• Diesel-Electric Locomotive Diesel-electric locomotive designed for reliable and efficient railway transportation with latest technology and superior technical specifications; designed for and exported to the Philippines.
• Diesel-Hydraulic Locomotive (DH CC 300) Diesel-hydraulic locomotive with advanced control system capable of operating in flood-prone areas; maximum speed 120 km/h, gross horsepower 1,700 kW at 1,800 rpm, 45° V-6 4-stroke turbocharged engine, 15-ton axle load, 1,067 mm track gauge.
• Executive Class Passenger Coach (Stainless Steel New Generation) Stainless steel executive class passenger coach with modern ergonomic design, onboard entertainment system, efficient air conditioning, disability-accessible facilities, electric sliding doors; maximum operational speed 120 km/h, capacity 50 passengers per car.
• Economy Class Passenger Coach (Stainless Steel New Generation) Stainless steel economy class passenger coach featuring the latest innovation in railway transport, designed to provide superior comfort and travel experience for high-volume passenger service.
• Passenger Coach Export (Bangladesh Railway BG/MG) Passenger coaches exported to Bangladesh Railway in both broad gauge (BG) and meter gauge (MG) variants; 400 cumulative units delivered 2005-2017.
• Light Rail Transit (LRT) Jabodebek with CBTC Autonomous Operation Light Rail Transit designed for mass transportation in the Greater Jakarta (Jabodetabek) area, capable of autonomous driverless operation using Communication-Based Train Control (CBTC) system.
• Light Rail Transit (LRT) Sumatera Selatan Light Rail Transit system for the South Sumatra region supporting regional mass transit infrastructure.
• Electric Multiple Unit (EMU / KRL) including KRL Airport Electric multiple unit trains for electrified railway lines, including dedicated KRL Airport services for the Soekarno-Hatta airport connection.
• Diesel-Electric Multiple Unit (KRDE) Sulawesi Selatan with Hybrid Propulsion Diesel-electric multiple unit with hybrid propulsion combining diesel and battery power, operating on the Makassar-Parepare route in South Sulawesi; 1,435 mm track gauge, operational speed 80 km/h, passenger capacity 278.
• Diesel Multiple Unit (DMU / KRDI) Indonesian diesel railcar diesel multiple unit with maximum speed 120 km/h and operational speed 100 km/h, supplied to Philippine National Railways and other operators.
• Railbus Railbus vehicle for regional and feeder railway services.
• Well Wagon (export to LTA Singapore) Flat well wagon designed to carry heavy loads with maximum payload capacity of 41,000 kg; exported to Singapore (LTA) in 2011-2012 with repeat orders.
• Z-type Open Wagon (ZZOW) Open freight wagon with maximum capacity of 38 cubic meters, maximum operational speed 80 km/h, 1,067 mm track gauge, equipped with Super Service Ride Control bogies and UIC 540 air brake system.
• Flat Freight Wagon (PPCW Rail) Flat freight wagon for general cargo transport.
• Power Generating Car (Gerbong Pembangkit) Power-generating freight car providing electrical power for train operations.
• Oil Tank Wagon (Gerbong Tangki Bahan Bakar) Liquid fuel tank wagon for transporting petroleum and other liquid commodities.
• Baggage Car (Gerbong Bagasi) Baggage car for passenger train services, providing dedicated luggage transport capacity.
• Railway Measurement Car (Kereta Ukur) Railway measurement vehicle that inspects and monitors track conditions; powered by diesel hydromechanical system, equipped with sensors and cameras for detecting infrastructure damage.
• Railway Inspection Train (Kereta Inspeksi) Special inspection train for monitoring railway infrastructure conditions, including a dedicated variant for the Sulawesi region.
• Railway Rescue Car (Kereta Penolong) Emergency rescue vehicle for railway operations.
• VIP / Official Railway Car (Kereta Kedinasan) Official railway vehicle configured for government and institutional use.
• Track Motor Car (TMC) Motorized track inspection vehicle for railway maintenance; maximum speed 50 km/h, 1,067 mm track gauge, body length 6,600 mm, width 2,800 mm, empty weight 22,000 kg, diesel engine with hydro-mechanical transmission and pneumatic braking.
• Articulated Electric Bus 18-meter articulated electric bus designed for efficient and eco-friendly urban mobility; ergonomic design with cutting-edge technology, 38 seats and 120 standing passengers, Cummins engine with maximum power 320 HP at 2,300 rpm, integrated CAN Bus control system.
• E-Inobus IEV-08-B172 Electric Bus 8-meter electric bus with advanced battery technology, positioned as a comfortable, reliable, and environmentally friendly urban transit vehicle.
• Tram Mover Tram vehicle for urban light rail transit.
• Battery Tram (Tram Baterai) Battery-powered tram offering a zero-emission urban transit solution.
• After-Sales Service and Spare Parts Maintenance services, spare parts supply, and after-sales support ensuring that customers receive products with optimal quality throughout the product lifecycle.
• Engineering Consulting and Railway Maintenance (via PT Rekaindo Global Jasa) Engineering consulting services, railway design, and maintenance services delivered through joint venture PT Rekaindo Global Jasa (PT INKA 49%, Nippon Sharyo 39%, Sumitomo Corporation 10%, Kopinka 2%, established 1998).
• Railway Components Construction and Trading (via PT INKA Multi Solusi) Total Solution Provider services in construction and trade of railway components and land transportation products delivered through subsidiary PT INKA Multi Solusi (99.86% owned by PT INKA, formerly PT Railindo Global Karya, acquired 2014).

Quantifiable outcome

• Products exported to 7 countries: Bangladesh, Philippines, Malaysia, Thailand, Singapore, Australia, and New Zealand
• +1 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• PT INKA Multi SolusicoreStrategic or Co-development Partner · 1 January 2009Subsidiary providing Total Solution Provider services in construction and trade of railway components and land transportation products. Originally established as PT Railindo Global Karya on December 23, 2009, acquired by PT INKA on November 28, 2014. PT INKA owns 99.86%, with 0.14% held by INKA Family Foundation. Located at Jalan Surabaya-Madiun KM 161 No. 1, Madiun.
• PT Rekaindo Global JasacoreStrategic or Co-development Partner · 1 January 1998Joint venture established in 1998 with shareholding: PT INKA 49%, Nippon Sharyo 39%, Sumitomo Corporation 10%, Kopinka 2%. Provides engineering consulting services, design, and maintenance in the railway sector. Located at Jalan Sumber Karya No. 2, Madiun, East Java.
• Nippon SharyocoreStrategic or Co-development PartnerJapanese partner holding 39% stake in PT Rekaindo Global Jasa joint venture, contributing railway engineering expertise and technology to the partnership.
• Sumitomo CorporationminorStrategic or Co-development PartnerJapanese partner holding 10% stake in PT Rekaindo Global Jasa joint venture, providing business development and market access support.
• BPKP Perwakilan Provinsi Jawa TimurminorImplementation/ SI/ Consulting PartnerGovernment audit agency providing consultancy support for Risk Management System development at PT INKA, including risk profile development and risk-adjusted RKAP preparation.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Titagarh Rail Systems: Indian rolling stock manufacturer producing passenger coaches, freight wagons, metro coaches, and locomotives. Comparable emerging-market player competing for similar international tenders with growing domestic scale and export ambitions.

Direct peers

• Nippon Sharyo: Japanese rolling stock manufacturer and PT INKA's JV partner via PT Rekaindo Global Jasa (39% stake). Produces passenger coaches, locomotives, and EMUs with strong technology credentials, serving as both a technology partner and a competitor in premium export markets.
• The Greenbrier Companies: US-based manufacturer of freight railcars, barges, and marine services. Directly comparable to PT INKA's freight wagon business, particularly for container flat wagons where Greenbrier is a major supplier to North American and Oceania markets.
• Hyundai Rotem: Hyundai Rotem manufactures locomotives, high-speed trains, EMUs, DMUs, and electric buses for global markets. Comparable mid-tier state-affiliated Korean rolling stock producer competing in similar international tenders and serving as a reference for PT INKA's scale and product mix.
• CRRC Corporation: CRRC is the world's largest state-owned rolling stock manufacturer, producing locomotives, passenger coaches, freight wagons, EMUs, and metros for global markets. Direct competitor in international tenders where PT INKA also bids, particularly in Southeast Asia and emerging markets.
• BEML Limited: BEML is an Indian state-owned manufacturer of rail coaches, locomotives, and defense equipment. Closely parallels PT INKA's profile as a state-owned mid-cap rolling stock producer in an emerging Asian market with domestic-mandate positioning and selective export activity.

Broad incumbents

• Alstom: Global Tier-1 rolling stock and rail signaling manufacturer (post-Bombardier Transportation acquisition). Competes against PT INKA in metro/LRT, locomotives, and signaling tenders, particularly where premium technology and financing packages are required.
• Stadler Rail: Swiss rolling stock manufacturer specializing in regional trains, locomotives, and trams. Competes in similar commuter rail and freight wagon segments with strong technology positioning, including in Australia and New Zealand where PT INKA has export presence.
• Construcciones y Auxiliar de Ferrocarriles (CAF): Spanish rolling stock manufacturer producing metros, trams, locomotives, and high-speed trains. Established global player competing in similar urban rail and freight wagon tenders as PT INKA, particularly in emerging markets.
• Siemens Mobility: Siemens Mobility produces locomotives, high-speed trains, metros, and rail automation. Major incumbent competitor in international tenders, particularly in Southeast Asia and Australia where PT INKA also bids.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT Train Industri