JAKARTA - Danantara Indonesia targets the debt restructuring process for the Jakarta-Bandung High Speed Train project or Whoosh can be completed in the first half of 2026.
The completion of the financing is expected to accelerate the development of rail-based transportation projects in Indonesia.
Danantara Indonesia's Chief Operating Officer (COO) Dony Oskaria explained that discussions on the restructuring of the fast train project debt are currently at the level of the Coordinating Minister for Infrastructure and Regional Development and the Minister of Finance.
Furthermore, Dony said the final decision regarding the debt settlement scheme for the project was in the hands of the two ministries.
"The debt of Whoosh will ask the Coordinating Minister. Because from us it's over, right? From us, basically, the offering, the offer is over. Just ask the Coordinating Minister and the Minister of Finance," said Dony when met in Manggarai, Jakarta, Monday, March 16.
The government, continued Dony, wants the debt restructuring process for the high-speed train project not to drag on so that the development of the project can immediately enter the next phase.
"We want it as soon as possible. We hope that at least this semester must also be completed so that it does not drag on. We want to quickly enter the next phase," he said.
Dony explained that the debt obligation of the Whoosh project basically still exists. However, the government is trying to improve its financing structure so as not to burden the operations of PT Kereta Api Indonesia (Persero) or KAI as the leader of the BUMN consortium in the project.
"Actually the debt remains, we just make the structure better so that it does not interfere with the train in the future," said Dony.
According to him, the government is also preparing the development of rail-based transportation in various regions, including the electrification of a number of train lines on the island of Java. Some of the projects include the electrification of the Jakarta-Cikampek line, Jakarta-Sukabumi, to Jakarta-Rangkasbitung.
Therefore, continued Dony, Danantara Indonesia wants to ensure that the issue of financing the Whoosh High Speed Train project does not affect the financial health of KAI.
"We want to move forward not to be a problem for KAI. Can we want to grow KAI. We want the mass transportation mode that we hope for in the future is the train," said Dony.
Previously, Minister of Finance Purbaya Yudhi Sadewa said the discussion on the restructuring of the Whoosh Fast Train project debt had been completed. The government is said to have made a decision on the steps to settle the project's debt.
However, the official announcement regarding the decision will be made directly by President Prabowo Subianto or authorized government officials.
"The meeting has been broken up, but later it will be the President or the official government that will announce it, not me. But it is clear what the next step is," said Purbaya at the Ministry of Finance Office, Jakarta, Friday, March 13.
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