KUALA LUMPUR (Nov 5): Indonesia’s high-speed train operator is struggling with debts and the government will step in with financial support, the Straits Times reported on Wednesday.
The consortium operating the service, Kereta Cepat Indonesia China, is currently in advanced talks to restructure around 85 trillion rupiah (RM21 billion) in debts with China Development Bank amid interest payment burdens, the Singapore newspaper said.
“Basically, there is no problem” for Indonesia to help with the repayments, President Prabowo Subianto was quoted as saying by Straits Times. “We would pay maybe around 1.2 trillion rupiah per year [in interest expense].”
The 142km railway connecting the capital Jakarta and Bandung, the country’s…