Negotiations Almost Final! Debt Interest For Swelling Nutup For High Speed Train Fees Is Around 3.6-3.7 Percent

Illustration of the Jakarta-Bandung High Speed Train. (Photo: Doc. Antara)

JAKARTA - Debt interest discussions with the China Development Bank (CDB) to close the swelling of the Jakarta-Bandung high-speed rail project are almost at an end.

Currently, debt interest negotiations have narrowed in the range of 3.6 to 3.7 percent.

Deputy Minister of State-Owned Enterprises (BUMN) Kartika Wirjoatmodjo said Indonesia had succeeded in negotiating debt interest rates to CDB.

Initially, the interest on debt was around 4 percent, but with negotiations the figure managed to fall.

"This is the final, we want to remove the term sheet again because it depends on the guarantee. This week it should come out, but around 3.6-3.7," he said when met in the Sarinah area, Central Jakarta, Tuesday, October 3.

Furthermore, Tiko, Kartika's nickname, explained that the loan to close the swelling of the Jakarta Bandung high-speed rail project will be carried out by PT KAI (Persero). Later, KAI will make a capital deposit to PT Kereta Cepat Indonesia China (KCIC).

"So KAI borrows, because KAI as a shareholder must increase capital. So this loan is a loan to be loaned by KAI to KCIC, but the one who borrowed KAI, and the government is behind KAI," he continued.

Tiko explained that the iron from this loan is in KAI. Even so, he emphasized that this state-owned company is in good health.

"So the first risk is still in KAI actually, because KAI is healthy. So the government does not guarantee directly to KCIC, but guarantees KAI," he said.