Indonesia's investment agency to address Yavan Express Railway debt issue

The Indonesian Investment Authority (BPI Danantara) will intervene to resolve the losses and debts of state-owned construction companies arising from the Jakarta-Bandung High Speed Rail (Whoosh) project.Danantara is preparing to offer solutions for the payment of debts related to the high-speed rail project and the consolidation of state-owned enterprises involved in the project's alliance, the chief operating officer of Danantara said. The high-speed rail project is part of the work plan of Danantara Asset Management's restructuring cluster, which is expected to be completed by the end of the year, and Danantara will propose a number of alternative steps to the government to resolve the project's debt issues. He said it is being evaluated in terms of the company's operations and debt and will propose a long-term solution and that the solution will not affect the future operational performance of the companies involved. Four state-owned enterprises under the Indonesian state pillar sinergi BUMN Indonesia (PSBI), namely Indonesian Railways (KAI), Wijaya Karya (WIKA), Jasa Marga (JSMR), and Perkebunan Nusantara I (PTPN), which hold the Indonesia-China High Speed Rail ( KCIC) 60%, which is the operator of the Whoosh High Speed Rail Project.