JAKARTA - The Anagata Nusantara Power Investment Management Agency (BPI Danantara) will restructure its debt for the Jakarta-Bandung High Speed Rail (KCJB) project or now known as
The high-speed rail project experienced a cost overrun of US$1.2 billion or equivalent to Rp18.76 trillion.
Danantara Indonesia's Chief Operating Officer (COO) Dony Oskaria said Danantara would propose several alternatives to restructuring the fast train debt to the government.
"Indeed, we are thinking about this fast train, and we will propose it soon. But there are still some alternative solutions that we will offer, we will convey to the government about the completion of this fast train," said Dony when met at the DPR Building, Jakarta, Wednesday, July 23.
Dony explained that this debt restructuring needs to be done in order to maintain the performance of SOEs involved in the high-speed rail project, especially PT Kereta Api Indonesia (Persero) which is the leader of the Indonesian consortium.
For your information, the operator of the Fast Train-Jakarta Bandung, PT Kereta Cepat Indonesia China (KCIC) is a joint venture between the Indonesian consortium, PT Pilar Sinergi BUMN Indonesia (PSBI) with 60 percent share ownership, and the remaining 40 percent have a Chinese consortium, Beijing Yawan HSR Co. Ltd.
PSBI's shareholder composition consists of PT Kereta Api Indonesia (Persero) at 51.37 percent, PT Wijaya Karya (Persero) Tbk 39.12 percent, PT Jasa Marga (Persero) Tbk 8.30 percent, and PT Perkebunan Nusantara VIII 1.21 percent.
"This is an operation, we are currently seeing how the long-term solution will be regarding the debts of this consortium which is quite large. We will convey this later (to the government)," he said.
Dony said the debt restructuring of the Jakarta-Bandung high-speed rail project would be carried out comprehensively and would not interfere with KAI's performance.
"We want the settlement this time to be comprehensive and not interfere with the performance of the Indonesian Railway in the future," he said.
For your information, this fast train debt restructuring is one of the focuses of Danantara from 22 work programs that will be accelerated in the remaining 2025 time.
Previously reported, Danantara Chief Operating Officer (COO) Dony Oskaria said the operational holding of Danantara Indonesia, PT Danantara Asset Management (Persero) or DAM has prepared 22 strategic work programs that will be carried out within five months.
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Dony explained that this program is part of efforts to optimize the BUMN portfolio which is divided into three clusters, namely restructuring, consolidation, and development.
In the field of restructuring, he continued, DAM highlighted four main sectors including airline businesses, steel manufacturing infrastructure, high-speed rail projects and the insurance sector.
"We are also grouping into work programs related to streaming and business consolidation," said Dony in a working meeting and hearing with Commission VI of the DPR, Wednesday, July 23.
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