October 24, 2025 | 11:28 am
TEMPO.CO, Jakarta - The Chinese government has reaffirmed its commitment to supporting the smooth operation of the Jakarta–Bandung high-speed rail, also known as Whoosh.
The statement came from Chinese Ministry of Foreign Affairs spokesperson Guo Jiakun amid ongoing discussions over the project’s debt restructuring led by Danantara Indonesia.
“China is ready to work with Indonesia to continue ensuring the high-quality operation of the Jakarta-Bandung High-Speed Railway (HSR), maximizing the role of the project in boosting Indonesia's economic and social development and regional connectivity,” Guo said, according to the official website of China’s Ministry of Foreign Affairs on Friday, October 24, 2025.
Guo highlighted that Southeast Asia’s first high-speed rail has shown positive results since beginning operations two years ago.
He said Whoosh has served over 11.7 million passengers safely and on time, and its value should also be measured by social impact and long-term benefits.
“It has provided services for over 11.71 million passengers, with passenger flow still increasing steadily, and its economic and social benefit continues to be unleashed, creating large amounts of jobs for the local people and boosting economic growth along the line,” Guo said.
Guo further emphasized the strong cooperation between China and Indonesia in ensuring the project’s success.
“Competent authorities and companies of the two sides have maintained close coordination to provide strong support for the safe and stable operation of the railway,” Guo added.
Earlier, Danantara Indonesia Chief Operating Officer Dony Oskaria stated that the debt restructuring process is targeted to be completed this year.
Negotiations with Chinese authorities are ongoing, focusing on loan terms, interest rates, and currency denomination.
“These are the points currently being discussed in meetings with China. The government is still reviewing all options for the best approach to restructuring,” Dony told reporters at the Ministry of Finance in Jakarta on Thursday, October 23, 2025.
He emphasized that operationally, the high-speed rail is performing well. Based on EBITDA calculations (earnings before interest, taxes, depreciation, and amortization), the project has achieved operational profitability, leaving only outstanding construction debt.
“For KCIC, it’s now just a matter of paying off past construction loans,” Dony said.
Meanwhile, Danantara Indonesia CEO Rosan Roeslani said the company has been coordinating with the Ministry of Finance to develop comprehensive repayment options.
“We are evaluating several feasible payment schemes and ensuring that none will burden the state budget,” Rosan said.
Finance Minister Purbaya Yudhi Sadewa previously stated that Whoosh’s debt payments do not need to rely on the state budget.
He noted that Danantara has sufficient funds from state-owned enterprise dividends, which total around Rp90 trillion, while the high-speed rail’s annual debt obligation is Rp2 trillion.
These funds could be used to repay loans from China Development Bank, the main creditor for the project.
“That is enough to cover the Rp2 trillion annual repayment for the high-speed rail. I am confident the money is available each year,” Purbaya said at Wisma Danantara in Jakarta on Wednesday, October 15, 2025.
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