Indonesia has Entered Talks with China on High-speed Train Debt, Minister Says

HIGH-SPEED TRAIN - JAKARTA. Indonesia's Investment Minister Rosan Roeslani on Wednesday said the government has entered into discussions with China about restructuring the debt of Indonesia's high-speed train company.

Construction of the $7.3 billion China-backed high-speed railway began in 2016, and it was meant to start operating in 2019.

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But the project to connect the capital Jakarta and Bandung in West Java faced problems, including land procurement issues, pandemic-related delays and ballooning costs, which pushed out its

Rosan declined to disclose details of the proposed restructuring being negotiated with the Chinese government.

"We want a comprehensive reform, so that after we restructure there will be no more things like the possibility of default and so on in the future," Rosan said. 

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