Danantara Boss Assures Whoosh Debt Restructuring Completed, Announcement Imminent

Chief Operating Officer (COO) of Danantara and Head of the State-Owned Enterprises Regulatory Body, Dony Oskaria, stated that the debt restructuring for the Indonesia-China High-Speed Train (KCIC) project, alias Whoosh, has been completed and will soon be announced to the public. He assured that the resolution process has reached the final stage after discussions with Finance Minister Purbaya Yudhi Sadewa. “Whoosh will also soon be finalised with the Finance Minister. Hopefully, within the next week or two, I will meet with journalists and the Finance Minister to convey the resolution of Whoosh, which is already done and final,” said Dony in Jakarta on Tuesday, 7 April 2026. He explained that all studies related to the debt restructuring have been completed and an agreement has been reached between the relevant parties. Currently, the process is entering the formal stage, such as document signing, which will also be informed openly. “I just discussed with the Finance Minister. And there is already an agreement. All studies and so on are done. Now, we will have the formal process. There will be signing and such. Journalists will be invited,” he said. Dony stated that the government is focused on comprehensively resolving the issue without debating past causes. These efforts are aimed at improving the health of state-owned enterprises and strengthening future governance. Regarding operations, he assured that the management of the high-speed train remains with PT Kereta Api Indonesia (KAI). As for the ownership structure and funding, further details will be explained at the official announcement. “We will convey this later. It’s no longer a surprise; the Finance Minister and I will together convey to the public regarding this resolution process. But certainly, for all of you, the resolution will soon be signed and settled,” said Dony. Furthermore, he emphasised that services to the public will not be disrupted and are expected to improve after the clarity on the high-speed train project’s funding structure. “And most importantly, public services will not be disrupted and will actually become better. Thus, with the clarity regarding the funding structure of the high-speed train,” he said.