August 31, 2025 | 11:27 am
TEMPO.CO, Jakarta - The Investment Management Agency Danantara, together with PT Kereta Api Indonesia (Persero) or PT KAI, has entered the stage of exploring the issues surrounding the Jakarta-Bandung High-Speed Train (KCJB) project, also known as Whoosh, to find a solution to the debt burden facing the PT Kereta Cepat Indonesia China (KCIC).
"We are currently exploring the issues," said Chief Operating Officer (COO) of Danantara, Dony Oskaria, in Jakarta, as quoted from Antara, on Friday, August 22, 2025.
Dony stated that the exploration process is ongoing and will be resolved soon. "We will certainly settle the process as our President Director had already mentioned in the DPR, yes," said Dony.
The KCJB project is a national strategic project that has garnered attention due to the debt burden to be borne by PT KAI. The total cost of the project amounts to US$ 7.27 billion or around Rp 118.9 trillion, including a cost overrun of US$ 1.2 billion.
The President Director of PT KAI, Bobby Rasyidin, proposed the restructuring of the Whoosh project in a hearing with the House of Representatives Commission VI, which oversees trade and state-owned enterprises, at the Nusantara I Building, Parliament Complex, Jakarta, on Wednesday, August 20, 2025.
"We are also delving into the issue of KCIC, indeed this is a time bomb. We will coordinate with Danantara to resolve this KCIC, and then for the improvement and restructuring of the existing portfolios," said Bobby.
Response of the House of Representatives Regarding Whoosh High-Speed Train Debt
Member of House of Representatives Commission VI, Darmadi Durianto, stated that the financial burden over the past two years has been quite significant, especially when KAI also needs to bear the high-speed train project.
"If calculated until 2025, the financial burden and losses of KCIC could reach more than Rp 4 trillion. From the burden of KCIC alone, it has reached Rp 950 billion, multiplied by two, it exceeds Rp 4 trillion," said Darmadi.
Meanwhile, PDIP politician, Mufti Anam, suggested that KAI management should not just wait for assistance from Danantara. Mufti requested that the President Director of KAI take concrete steps to repay the KCIC debt so that this issue can be handled independently.
"We ask for a roadmap for the Whoosh train. Sir, you have to master that, if not, the debt that burdens KAI will be substantial. Relying solely on Danantara to settle this debt is also not good, because this is the result of a policy mistake, which then becomes a debt," he said.
Chairperson of the House of Representatives Commission VI, Anggia Ermarini, also assessed KAI's performance, which is actually quite good, but has been affected by the Whoosh debt issue. "The railways are actually profitable, but because of Whoosh, it has become a deficit," she said.
Dandi Bajuddin contributed to the writing of this article.
Editor's Choice: KAI CEO on High-Speed Train Debt: "A Time Bomb"
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