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View all search resultsIndonesia will soon finalize negotiating loan interest rates to finance the cost overrun of the Whoosh high-speed railway (HSR), with the figure expected to remain high despite efforts to secure cheaper funding costs.
The Chinese-made bullet train named "Whoosh" is built to take more than 600 people to and from Jakarta and Bandung in West Java in 45 minutes and is part of China's Belt and Road infrastructure initiative.
Deputy State-Owned Enterprises (SOEs) Minister Kartika Wirjoatmodjo announced an agreement had been reached between Indonesia and China regarding the amount of Jakarta-Bandung High Spseed Rail (HSR) project cost overrun, but the figure seems to be classified. The agreement resolved the dispute between both countries about the HSR project’s cost overrun, which had hampered its development progress.
Two Chinese workers died in an accident in the construction of the Jakarta-Bandung High-Speed Railway on Sunday, raising concerns about the project’s safety, timeline and costs. Since it began, the project has suffered multiple accidents, delays and ballooning cost overruns.
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