TheJakartaPost
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We work closely in international and regional affairs, advancing China-ASEAN cooperation, maintaining peace and stability in the South China Sea, supporting the Palestinian national liberation cause and defending the common interests of the Global South.
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).
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.
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.
Critics have suggested the purchase of the Chinese Commuter Line trains, saying it may be linked to ongoing liabilities that Indonesia owes to China for financing the construction and operation of Whoosh.
