Plagued by Chinese debt, Jakarta-Bandung high-speed rail gets lifeline from Prabowo

The Whoosh high-speed rail project connects Jakarta and Bandung, with plans for an extension to Banyuwangi, the easternmost city in Java. -- PHOTO: KERETA CEPAT WHOOSH/FACEBOOK via The Straits Times/ANN

JAKARTA (The Straits Times/ANN): 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 Tuesday (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.