Whoosh takeover set for September, Purbaya says
After incurring a loss of nearly $290 million in the first six months of 2026, the government is finally stepping up to take over the operation and maintenance of the Jakarta-Bandung HSR, according to the finance minister.
Finance Minister Purbaya Yudhi Sadewa has announced that the government will take over the operation and maintenance of the Jakarta-Bandung High-Speed Rail (HSR), commonly known as Whoosh, in September. The Ministry of Finance reached this decision after incurring a loss of nearly $290 million in the first half of 2026. While a specific date for the handover has not been provided, Purbaya confirmed via a TikTok post that the management of the high-speed rail will be under the Finance Ministry by September.
The current management of Whoosh is held by the Finance Ministry's special mission vehicles, or SMVs, which are companies operating directly under the Finance Ministry. Prior to this, state-owned enterprises under the state asset fund Danantara had controlled the government's stake in the Jakarta-Bandung HSR. The new arrangement aims to expedite the handling of debt and prevent a direct burden on the state budget.
This plan emerged following a meeting between Purbaya and Danantara COO Dony Oskaria, who serves as the head of the State-Owned Enterprises Regulatory Agency (BP BUMN). The rail service is operated by PT Kereta Cepat Indonesia China (KCIC), a joint venture between Indonesian consortium PT Pilar Sinergi BUMN Indonesia (PSBI), holding 60% of the stake, and the Chinese consortium Beijing Yawan HSR Co. Ltd., holding the remaining 40%.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
