An Indonesia-China joint venture operating South-east Asia’s first high-speed train, Whoosh, will receive financial support from the state’s coffers, said Indonesian President Prabowo Subianto on Nov 4. The consortium, named Kereta Cepat Indonesia China (KCIC), is currently in advanced talks to restructure around 85 trillion rupiah (S$6.6 billion) in debts with China Development Bank (CDB), as it struggles to cover interest payments.
“Basically, there is no problem. We would pay maybe around 1.2 trillion rupiah per year (in interest expense). Consider the benefits – reduced traffic jams, lower pollution, faster (inter-city) travels. All these have to be taken into account,” Mr Prabowo told reporters after inaugurating a new commuter train station in Jakarta.
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