Indonesia to Take Control of Whoosh Railway
Indonesia plans to transfer a controlling stake in the Whoosh high-speed railway to a state agency or its sovereign wealth fund next week. The move follows debt restructuring talks with China. The new operator will handle outstanding loan repayments.
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Indonesia will transfer control of its $7.3B high-speed railway to a state-backed agency next week, shifting oversight of the joint venture. The Belt and Road Initiative project has faced ballooning costs since opening in 2023. The transfer aims to restructure debt and clear the path for a 700-km extension east.
