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Companies 1 year ago
PREMIUM
KCIC says not involved in Whoosh logistics tender amid probe
The operator of the Jakarta-Bandung HSR, dubbed Whoosh, has distanced itself from the business competition watchdog's investigation into suspected collusion in a procurement tender to deliver imported EMU trains upon their arrival at Tanjung Priok.
Companies 2 years ago
PREMIUM
Indonesian Whoosh consortium posts Rp 3.5 trillion H1 loss
Indonesian state-owned enterprises (SOEs) booked Rp 3.53 trillion (US$221.8 million) in losses related to the operation of the Whoosh high-speed railway in the first half of this year, according to a financial report released by state-owned railway company PT Kereta Api Indonesia (KAI).
Companies 2 years ago
PREMIUM
KAI asks for government help to alleviate high-speed rail debt burden
Southeast Asia’s first HSR project cost around US$7.3 billion by the time of its completion, leaving state-owned enterprises (SOEs) involved in the project with a liability of $4.55 billion in debt taken out since 2017, plus another $560 million to cover a cost overrun last year, Reuters reported.
Regulations 2 years ago
PREMIUM
Jokowi urges China to expedite Surabaya HSR feasibility study: Retno
Foreign minister Retno said the President had met with her Chinese counterpart on Thursday to discuss economic cooperation between their two countries, including Whoosh and the joint feasibility study initiated late last year on extending the HSR track to Surabaya.
Economy 2 years ago
PREMIUM
Whoosh faces hefty deficit in first year of operation
Kereta Cepat Indonesia China (KCIC), the consortium responsible for the project, is seeking to close the gap through what it calls cash deficiency support (CDS), which experts say will most likely come from bank loans.
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