Prabowo Transfers KCIC from Danantara to Purbaya, Administrative Process Nearing Completion

Finance Minister Purbaya Yudhi Sadewa has said that the government’s takeover of PT Kereta Cepat Indonesia China (KCIC) has been decided, pending only the completion of administrative procedures.

Purbaya stated that the decision on transferring KCIC’s management had essentially been taken. At present, the government is simply completing the administrative steps before the process can be realised.

“This is still going through the administrative process. It has actually been decided; only the administrative process is still under way. Once Danantara’s side is cleared, it’s done. Then we will report back to the President,” Purbaya said at the Presidential Palace complex in Jakarta on Wednesday, 15 July 2026.

Purbaya said KCIC will subsequently be handed over from the Daya Anagata Nusantara Investment Management Agency (Danantara) to himself, in line with President Prabowo Subianto’s instruction.

He stressed that resolving KCIC’s affairs does not necessarily require the state budget (APBN). According to him, the government has prepared an alternative financing scheme using various instruments at its disposal.

“KCIC is currently still with Danantara, and it will later be handed over to me because President Prabowo instructed us to sort it out,” Purbaya said.

“But it doesn’t have to be funded by the state budget. I have a certain scheme in which there are tools and vehicles we have outside, which are available now and can handle KCIC,” he said.

Nevertheless, Purbaya was unable to provide more detailed information because the handover of KCIC has not yet been completed. He also denied speculation that KCIC would be managed as a Public Service Agency (BLU).

“Who said KCIC would become a BLU? There is no such thing. In any case, it is being given to me, and I will sort it out,” he said.