Danantara Targets Completion of Whoosh Debt Settlement Negotiations in the First Quarter of 2026

JAKARTA - The Anagata Nusantara Power Investment Management Agency (Danantara Indonesia) targets that the negotiation to settle the debt of the Indonesia-China High-Speed Train (KCIC) or Whoosh project with the Chinese party can be completed in the first quarter of 2026.

Currently, Danantara is in the process of discussing with the Coordinating Minister for Economic Affairs, Airlangga Hartarto, regarding the time of departure to China to conduct the negotiation process.

"Later we will wait for the Coordinating Minister (to China), but don't worry. Insyaallah the first quarter will be completed (KCIC negotiations)," said Danantara's Chief Operating Officer (COO), Dony Oskaria, when interviewed by cegat on the sidelines of the Indonesia Economic Outlook 2026 event at Wisma Danantara, Jakarta, quoted by Antara, Saturday, February 14.

Dony ensured that Danantara continued to coordinate with the Ministry of Finance (Kemenkeu), regarding the mechanism for settling Whoosh's debt, which is in the range of IDR 1.2 trillion per year.

"Later, it is being discussed with the Ministry of Finance. But, God willing, hopefully, it will be completed. Yes, it has been conveyed many times," said Dony.

Dony warned not to worry about Whoosh's debt, and ensured that the settlement process with China would be carried out immediately.

"What is the problem? I am also confused. What is the problem? What is it? Can you try? You like to ask questions. In fact, it is over. The process will be completed," said Dony.

He reminded that the Whoosh high-speed train project connecting Jakarta and Bandung has provided sustainable economic impact to the Indonesian people.

"He has an economic impact. Operationally they are able to sustain. The problem is that our investment is small, so the debt becomes large during construction," said Dony.

Previously, the Minister of Finance, Purbaya Yudhi Sadewa admitted that he had not discussed further about the settlement of the Whoosh project debt with the State Palace. "Later, I have not been called for that matter," said Purbaya.

According to Purbaya, the final discussion regarding the financial restructuring of KCIC still uses the 50:50 scheme, so not all debt burden is borne by the State Budget (APBN).

However, the Minister of Finance will ensure the continuation of the plan to settle the debt for the Jakarta-Bandung High Speed Train project after receiving a call from the Palace.

"As far as I remember, it's still 50:50, he hasn't been invited there," he said.

Previously, the Secretary of State, Prasetyo Hadi, said the source of payment for the Whoosh development debt came from the state budget. He said this after a press conference regarding the I Quarter Economic Stimulus and the Readiness for Idulfitri Transportation 2025 at Gambir Station, Jakarta, Tuesday, February 10.

The Minister of Law and Human Rights explained that the discussion was still in the finalization stage. The process of negotiation and technical discussions on the payment mechanism is led by Danantara Indonesia CEO Rosan Roeslani.

President Prabowo Subianto previously ordered his ministers to find the best scheme to solve the Jakarta-Bandung Whoosh fast train debt problem, including details related to numbers, and the best debt settlement scenarios that the government can take.