Quo Vadis Jakarta-Bandung High Speed Train
Anticipating other financial needs when operating the high-speed train, the step of increasing debt can have a negative impact. Meanwhile, the government’s fiscal capacity through the APBN is also increasingly limited. So, the most likely option is to find other strategic investors to join KCIC. It is better to strive for domestic investors to enter so that the added value of the existence of this project is still domestic. If the SOE consortium is unable to raise capital, the effect will be a dilution of share ownership.
Of course, there is still much other homework that must be completed so that this project does not stall. Based on records until July 2022, the progress of physical development is more than 75 per cent while investment progress is more than 81 per cent. Moreover, in the second week of August 2022, the electric multiple unit (EMU) series of this fast train has also begun to be delivered from the factory in China. This means that planning of fast train can be operated in 2023 has provided a bright spot. The next important point is to develop a more feasible business plan so that this long-term project will produce positive results, at least break even, so that public pessimism can be eroded. Let’s work hard and work smart.
Toto Pranoto – BUMN INC Expert Council
