BUMN Regulatory Agency Pulls WIKA from Whoosh High-Speed Rail Project, Here's Why
JAKARTA, KOMPAS.com - The Head of the Badan Pengaturan BUMN (BP BUMN), Dony Oskaria, stated that PT Wijaya Karya (Persero) Tbk or WIKA will no longer be involved in the Kereta Cepat Indonesia-China (KCIC) or Whoosh project.
This step is being taken in line with the significant financial burden on WIKA, which has recorded losses of Rp 1.8 trillion per year due to the Whoosh high-speed rail project.
Dony said that his agency is addressing the problems faced by WIKA so that this state-owned construction company can focus on its core business.
Therefore, WIKA will no longer be involved in railway business management.
For information, KCIC is a joint venture company between the Indonesian and Chinese consortia.
The Indonesian consortium is represented by PT Pilar Sinergi BUMN Indonesia (PSBI) with a 60 per cent stake.
Meanwhile, the Chinese consortium through Beijing Yawan HSR Co. Ltd holds 40 per cent.
PSBI includes four state-owned enterprises, namely PT KAI (Persero), PT Wijaya Karya (Persero) Tbk or WIKA, PT Jasa Marga (Persero) Tbk, and PT Perkebunan Nusantara VIII (Persero) or PTPN VIII.
Dony stated that the government will comprehensively resolve the problems faced by the state-owned enterprises involved in the Whoosh consortium. He wants each BUMN to return to its respective core business focus.
“We want to finish it all thoroughly. We will return them to their portions; for example, WIKA is not in that field, it will focus on contracting. So we will settle them one by one,” he said.
He explained that this improvement step is part of a major restructuring effort carried out gradually but with comprehensive resolution.
This arrangement will also target other BUMNs involved in the railway sector, which is not their core business.
“So indeed, the resolution is one by one. Surely everyone knows, for example, there’s WIKA here, and also related to railways with Bukit Asam and so on. We will settle and tidy this up,” said Dony.
The burden is related to the financial obligations arising from WIKA’s involvement in the Whoosh project.
“Every year, there is still a burden that must be borne,” said Agung, after a media visit to Tol HBR II, Jakarta, on Monday (6/4/2026).
He explained that this condition is part of the challenges faced by the company in maintaining financial performance amid various strategic projects being undertaken.
He assured that the company continues to strive to take various financial recovery steps to reduce pressure from these obligations, in line with the restructuring efforts currently being carried out by the company.