State-Owned Enterprises Management Agency Announces Completion of Whoosh Debt Restructuring Scheme, Using State Budget?

Jakarta, VIVA – The Badan Pengelola (BP) BUMN has announced that the debt restructuring scheme for the Indonesia-China High-Speed Rail (KCIC) project, or Whoosh, has been designed and is set to be implemented soon. The policy will be announced to the public in the near future.

The Head of BP BUMN and Chief Operating Officer (COO) of Danantara, Dony Oskaria, stated that the resolution process has reached the final stage after discussions with Finance Minister Purbaya Yudhi Sadewa.

“Whoosh will also be finalised soon with the Finance Minister. Hopefully next week, I and the Finance Minister, or perhaps in one or two weeks, will meet and also with fellow journalists, with the Finance Minister to convey the resolution of Whoosh, which is already complete and final,” said Dony at the Presidential Palace Complex, Jakarta, on Tuesday.

He explained that all studies related to the debt restructuring have been completed and an agreement has been reached among the relevant parties. Currently, he said, the process is entering the formal stage, such as document signing, which will also be informed openly.

“I discussed it with the Finance Minister earlier. And there is already an agreement. All studies and so on are complete. Now we just have the formal process. There will be signing and such. And fellow journalists will be invited,” he said.

Dony stated that the government is focused on resolving the problems comprehensively without debating past causes. The efforts are directed towards improving the health of state-owned enterprises and strengthening future governance.

Regarding operations, he assured that the management of the high-speed rail remains with PT Kereta Api Indonesia (KAI). As for the ownership structure and funding, further details will be explained during the official announcement.

“Well, this will be conveyed later. It’s no longer a surprise; the Finance Minister and I will certainly announce this resolution process to the public together. 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 rail project’s funding structure.