Luhut Says China Has No Objection to Whoosh Debt Payment Plan
Luhut says China has raised no objections to Indonesia's proposed Whoosh debt repayment mechanism as talks continue between the two countries.
Chair of Indonesia's National Economic Council Luhut Binsar Pandjaitan visited China to discuss the debt repayment mechanism for the Whoosh High-Speed Railway. Pandjaitan assured that there were no objections from China to the proposed repayment plan. Indonesian President Prabowo Subianto has given the green light to proceed with the negotiations.
The National Economic Council is assisting in expediting the process. Pandjaitan also mentioned that extending the railway line to Surabaya, East Java, has been a popular demand. President Prabowo is expected to appoint a coordinating minister, possibly Agus Harimurti Yudhoyono, to oversee the railway's continuation. During his visit, Pandjaitan met with Chinese officials, including Foreign Minister Wang Yi, and attended various events in China.
An agreement has been made for Indonesia to acquire a 60% stake in the railway's operating consortium, PT Kereta Cepat Indonesia China (KCIC), with the remaining 40% retained by the Chinese consortium.
Written by urgent.news from Tempo.co English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
