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View all search resultsWhoosh 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.
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A train of the Jakarta-Bandung High-Speed Rail (HSR) service, which operates as Whoosh, arrives at a platform on March 15, 2026, at Padalarang Station in West Bandung regency, West Java. (Antara/Abdan Syakura)
T
he Finance Ministry will conclude in September its takeover of the local consortium in the Jakarta-Bandung High-Speed Rail (HSR), which operates under the brand name Whoosh, Finance Minister Purbaya Yudhi Sadewa has indicated.
Purbaya did not provide a date for the handover, only noting in a TikTok post on Sunday: “In September, the management of high-speed rail Whoosh will be under the Finance Ministry.”
He went on to say that its management would be placed under so-called special mission vehicles (SMVs), a term referring to certain companies that operate directly under the Finance Ministry.
Until now, state-owned enterprises (SOEs) under state asset fund Danantara have held the government’s stake in the Jakarta-Bandung HSR.
He said the new arrangement would ensure that “the handling of the debt will be faster and not impose a direct burden on the state budget”.
The plan was unveiled in early August after Purbaya met with Danantara COO Dony Oskaria, who is also head of the State-Owned Enterprises Regulatory Agency (BP BUMN), during which the two agreed to transfer Whoosh’s operation and liabilities.
The rail service is operated by PT Kereta Cepat Indonesia China (KCIC), a joint venture composed of Indonesian consortium PT Pilar Sinergi BUMN Indonesia (PSBI), which holds 60 percent of the stake, with the remainder held by Chinese consortium Beijing Yawan HSR Co. Ltd.
