Regulations
In this year’s first half alone, the Indonesian SOE consortium that operates the Whoosh high-speed railway incurred a loss of Rp 5.1 trillion ($282.5 million), widening from Rp 4.9 trillion logged in the entirety of last year.
Passengers disembark from a Whoosh high-speed train on Oct. 17, 2025, at Padalarang Station in Bandung, West Java. (Antara/Rubby Jovan)
The Finance Ministry will take over the Indonesian consortium of PT Kereta Cepat Indonesia China (KCIC) from state asset fund Danantara, including its operations and liabilities. However, he stressed that the high-speed railway's debt would not be financed by the state coffers.Following a meeting with Danantara chief operational officer Dony Oskaria, Finance Minister Purbaya Yudhi Sadewa said in a media briefing on Wednesday that the acquisition would "probably be finished” in the middle of this month.
KCIC is a joint venture that operates the Whoosh high-speed railway, with an Indonesian consortium holding 60 percent of the ownership stake while the rest is owned by Chinese consortium Beijing Yawan HSR Co. Ltd.
