The Jakarta-Bandung High-Speed Rail, a major project of the previous Joko Widodo administration, was primarily funded by loans from China Development Bank (CDB), with the remainder coming from the state budget and capital from consortiums of state-owned enterprises in Indonesia and China.
The project started construction in 2016 and experienced a cost overrun of US$1.2 billion, equivalent to IDR 18.02 trillion. After a joint audit by both countries, the total construction cost reached US$7.27 billion, equivalent to IDR 108.14 trillion.
Indonesia's National Investment Authority (BPI Danantara) plans to restructure the debt of the Jakarta-Bandung High-Speed Rail. Its CEO said they are evaluating the plan to ensure the restructuring process is comprehensive, rather than just delaying the issue. The COO stated they will propose multiple solutions to the government, but specific details have not been disclosed yet. The restructuring aims to maintain the operations of the relevant state-owned enterprises, particularly PT Kereta Api Indonesia (KAI) as the lead of the Indonesian consortium, ensuring that its future operations are not affected.
The operator of the Jakarta-Bandung High-Speed Rail, PT KCIC, is a joint venture. The Indonesian consortium (PT Pilar Sinergi BUMN Indonesia, PSBI) holds 60% of the shares, and the Chinese consortium (Beijing Yawan HSR Co. Ltd) holds 40%. The composition and shareholding ratios of PSBI are: PT Kereta Api Indonesia (KAI) 51.37%, Wijaya Karya (WIKA) 39.12%, Jasa Marga 8.30%, and Perkebunan Nusantara I 1.21%.
行业快讯
Indonesian Investment Agency Takes Over Debt Restructuring Affairs of Jakarta-Bandung High-Speed Rail
The Jakarta-Bandung High-Speed Rail, a major project of the previous Joko Widodo administration, was primarily funded by loans from China Development Bank (CDB), with the remainder coming from the state budget and capital from consortiums of state-owned enterprises in Indonesia and China.
The project started construction in 2016 and experienced a cost overrun of US$1.2 billion, equivalent to IDR 18.02 trillion. After a joint audit by both countries, the total construction cost reached US$7.27 billion, equivalent to IDR 108.14 trillion.
Indonesia's National Investment Authority (BPI Danantara) plans to restructure the debt of the Jakarta-Bandung High-Speed Rail. Its CEO said they are evaluating the plan to ensure the restructuring process is comprehensive, rather than just delaying the issue. The COO stated they will propose multiple solutions to the government, but specific details have not been disclosed yet. The restructuring aims to maintain the operations of the relevant state-owned enterprises, particularly PT Kereta Api Indonesia (KAI) as the lead of the Indonesian consortium, ensuring that its future operations are not affected.
The operator of the Jakarta-Bandung High-Speed Rail, PT KCIC, is a joint venture. The Indonesian consortium (PT Pilar Sinergi BUMN Indonesia, PSBI) holds 60% of the shares, and the Chinese consortium (Beijing Yawan HSR Co. Ltd) holds 40%. The composition and shareholding ratios of PSBI are: PT Kereta Api Indonesia (KAI) 51.37%, Wijaya Karya (WIKA) 39.12%, Jasa Marga 8.30%, and Perkebunan Nusantara I 1.21%.