Whoosh Debt Restructuring: Danantara COO Defers to Infrastructure Minister and Finance Minister

Jakarta, Indonesia — The Investment Management Body of Daya Anagata Nusantara (Danantara Indonesia) is targeting completion of the debt restructuring for the Whoosh Jakarta-Bandung high-speed train project by the first semester of 2026.

Chief Operating Officer Dony Oskaria stated that discussions regarding the project’s debt are being handled at the level of the Coordinating Minister for Infrastructure and Regional Development, as well as the Finance Minister. He noted that the final decision rests with these ministries.

“Questions about Whoosh debt should be directed to the Infrastructure Minister. From our side, we have already completed our part. Our offering and proposal are finished. It’s now a matter for the Infrastructure Minister and Finance Minister,” Oskaria said at Manggarai, Jakarta, on Monday (16 March 2026).

He expressed the hope that the restructuring could be completed within the first semester of 2026 to avoid prolonged delays.

“We want to move as quickly as possible. We hope that at minimum this semester, the process should be completed so things do not drag on. We want to move swiftly to the next phase,” he stated.

Oskaria noted that the debt obligation of the project remains unchanged. However, the government is working to improve the financing structure to avoid burdening the operations of PT KAI (Persero), which leads the state-owned enterprise consortium for the Whoosh high-speed rail project.

“Essentially, the debt remains; we are simply restructuring it so that it does not disrupt future railway operations,” he explained.

Oskaria also noted that the government plans to expand rail-based transportation networks, including electrification of several railway lines in Java. Projects under preparation include electrification of the Jakarta-Cikampek, Jakarta-Sukabumi, and Jakarta-Rangkasbitung routes.

“We want this to not become a burden on KAI in the future. We want to strengthen KAI. We envision that the primary mass transportation mode we hope for in the future will be rail,” he concluded.

Previously, Finance Minister Purbaya Yudhi Sadewa stated that discussions on restructuring the Whoosh high-speed train project debt had been concluded.