October 23, 2025 | 08:31 pm
TEMPO.CO, Jakarta - Dony Oskaria, the COO of Indonesian sovereign wealth fund Danantara, assures that the debt restructuring for the Jakarta-Bandung high-speed train, or Whoosh, will be completed this year. He said that talks are ongoing with China.
According to Dony, Danantara will depart for China soon to negotiate the terms of the loan repayment. "Regarding the loan period, interest rates, and the currencies," said Dony to reporters at the Ministry of Finance office, Jakarta, Thursday, October 23, 2025.
Donny said the government is still reviewing all debt restructuring options for the high-speed rail. However, he said that for PT Kereta Cepat Indonesia China (KCIC) as the manager, the most important thing is how to improve Whoosh services going forward.
The head of the State-Owned Enterprises (SOEs) Regulatory Agency also claimed that the high-speed rail posted a positive operational profit based on EBITDA (earnings before interest, taxes, depreciation, and amortization). So, he said, there's no need for the public to worry. "KCIC is only left with the issue of past development debt," said Dony.
Danantara CEO Rosan Roeslani previously consulted with several ministries, including the Finance Minister, regarding the resolution of Whoosh's debt to the China Development Bank. "The issue of Whoosh, I have conveyed to all ministers, including Pak Purbaya. We are reviewing the resolution thoroughly, providing options one, two, and three," Rosan said at the time, but stopped short of detailing which options will be taken to resolve the debt.
Meanwhile, Finance Minister Purbaya Yudhi Sadewa previously stated that Danantara has enough money from state-owned enterprise dividends of around Rp90 trillion, while the annual high-speed train debt reaches Rp2 trillion. Hence, Purbaya said, there's no need to use the state budget for the Whoosh debt payment.
Alif Ilham Fajriadi contributed to this article
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