October 14, 2025 | 09:36 am
TEMPO.CO, Jakarta - Indonesian Finance Minister Purbaya Yudhi Sadewa reiterated that the debt for the Jakarta-Bandung High-Speed Train (Whoosh) project will not be covered by the state budget (APBN). He believes the debt should be covered by Danantara.
Purbaya stated that Danantara, as the managing body for state-owned enterprises (SOEs), has already taken more than Rp80 trillion in SOE dividends. The Minister of Finance said Danantara should resolve the dividend issue. "Using the APBN is a bit ridiculous, because the profits go to them, but the losses fall on us. If they take it, they should take it all," Purbaya said in Tanjung Priok, Jakarta, Monday, October 13, 2025.
Previously, Danantara Chief Operating Officer Dony Oskaria stated that Danantara is preparing two options to settle the debt for the high-speed rail project. The first is by adding equity or handing over the Indonesia-China High-Speed Train (KCIC) infrastructure to the government.
"Whether we add equity or hand over the infrastructure, like other railway industries whose infrastructure is government-owned. We are currently reviewing these two options," he said.
The Jakarta-Bandung High-Speed Train project officially began operations in October 2023, with 60 percent ownership by an Indonesian consortium and 40 percent by China. The initial project cost was US$5.5 billion (Rp89.6 trillion), but ballooned to US$7.27 billion (Rp118.4 trillion) due to cost overruns.
Of the US$1.2 billion cost overrun, 75 percent was covered by a new loan from the China Development Bank, while 25 percent came from additional equity from KCIC.
Anastasya Lavenia Yudi contributed to this article.
Editor's Choice: Indonesian Govt Will Not Use State Budget to Pay Off High-Speed Train Debt, Says Minister
Click here to get the latest news updates from Tempo on Google News
Half of the Most Endangered Animals Are in Indonesia, Here's What UGM Researcher Suggests
1 jam lalu
A report by the World Wide Fund for Nature (WWF) stated that of the 10 most endangered species in the world, five are living and breeding in Indonesia
Indonesia Crowned Overall Champion at 2025 ASEAN Bowling Championship in Kazakhstan
2 jam lalu
The Indonesian Embassy in Astana, Kazakhstan, has emerged as the overall champion of the 2025 ASEAN Bowling Championship, hosted by Malaysian Embassy.
Indonesia Invites Xiaomi to Invest in Electric Vehicle Industry
10 jam lalu
Minister Agus thanked Xiaomi for its investment and contribution to developing the ecosystem of the smartphone and television industries in Indonesia.
Indonesia U-23 Draws 1-1 Against India Thanks to Dony Tri Pamungkas' Goal
11 jam lalu
After losing 2-1 to India in the first match, the Indonesian U-23 national team managed to tie 1-1 in the second match.
Today's Top 3 News: Indonesia's Industry Minister Says Chinese Firm Interested in Coal Downstream Project
13 jam lalu
Here is the list of the top 3 news on Tempo English today.
Indonesia's Stock Index Slides Amid Rising US-China Trade Tensions
14 jam lalu
On Monday afternoon, Indonesia's stock index (IHSG) closed lower as trade relations between the U.S. and China escalated.
US Restricts Indonesian Shrimp Imports Over Cesium-137 Contamination
15 jam lalu
The warning follows the discovery of Cesium-137 contamination in some shipments of shrimp and cloves from Indonesia.
#KluivertOut Trends After Indonesia Fails to Qualify for 2026 World Cup
15 jam lalu
Protests using the hashtag #KluivertOut have been widespread on social media since Indonesia failed to qualify for the 2026 World Cup.
38.8% of Indonesia's Public Health Centers Lack Sufficient Medical Staff
16 jam lalu
Deputy Health Minister Dante Saksono also said that 4.6 percent of public health centers in Indonesia lack a doctor.
Indonesia to Keep Running Labor-Intensive Programs in 2026, Says Deputy Minister
16 jam lalu
Deputy Minister of Public Works, Diana Kusumastuti, stated that the labor-intensive program will continue in 2026 as it involves the people.
