February 10, 2026 | 10:01 pm
TEMPO.CO, Jakarta - The Presidential Palace ensures that the debt payment for the Whoosh high-speed rail will use the state budget. President Prabowo Subianto had previously committed to paying Rp1.2 trillion for the debt of the project built during former President Joko Widodo's government.
State Secretary Minister Prasetyo Hadi, who is also President Prabowo's spokesperson, confirmed this. "Yes, the payment of Whoosh debt will be using the state budget," he said at Gambir Station, Central Jakarta, on Tuesday, February 10, 2026.
The Presidential Palace, according to Prasetyo, has received reports that the technical discussions for the Whoosh debt payment are underway. The negotiations will be led by Danantara CEO Rosan Perkasa Roeslani.
Coordinating Minister for Infrastructure and Regional Development Agus Harimurti Yudhoyono previously discussed the debt restructuring of the high-speed rail with Finance Minister Purbaya Yudhi Sadewa on January 20.
According to him, the debt restructuring remains at the forefront of discussions, as the matter "relates to the Chinese party and the fiscal security of companies involved in the project."
But at that time, the coordinating minister could not explain in detail about the payment options for the government to address the Whoosh debt. The decision to use the state budget for the payment was also not set in stone.
"Please be patient because we are also striving to look for the best solution. It is aligned with President Prabowo's mandate that the state will also take responsibility regarding the financial structure," AHY said.
The sovereign wealth fund Danantara would be involved in the Whoosh debt restructuring process, especially those related to the high-speed train operations. Meanwhile, the government would take over those related to the infrastructure.
Since its construction in 2016, the high-speed train project has incurred a total cost of US$7.2 billion, or Rp120 trillion (assuming an exchange rate of Rp16,707 per US dollar). It consists of an initial investment of US$6.02 billion and a cost overrun of US$1.21 billion.
About 75 percent of the funding was obtained from loans from the China Development Bank and the remaining 25 percent from the equity of PT Indonesia China High-Speed Train (KCIC). The consortium of state-owned enterprise PT Pilar Sinergi Indonesia (PSBI) controls 60 percent of KCIC shares. The remaining 40 percent is held by a consortium from China, Beijing Yawan HSR Co Ltd.
Ilona Estherina has contributed to the writing of this article
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