According to a report by Reuters on September 8th, Indonesian Finance Minister Purbaya revealed that Indonesia will change the controlling shareholder of the Jakarta-Yogyakarta High Speed Railway next week.
Purbaya said last month that a subsidiary of the Ministry of Finance would acquire 60% of the shares in the high-speed rail operating company, with Chinese companies retaining 40%. However, he explained on Tuesday that authorities are considering transferring this 60% stake to the Indonesian Investment Administration Agency (INA), or to the development financing institution SMI, under the Ministry of Finance. The transfer of ownership is expected to be completed on September 15.
Purbaya did not specify whether the current shareholders—a consortium led by the National Railway Company Kereta Api Indonesia—will receive compensation for the transfer of shares. However, it was stated that the new shareholders will be responsible for repaying the outstanding loans related to the project.
According to reports, the China Development Bank initially provided a loan of 4.5 billion US dollars with a term of 40 years, along with a 10-year grace period. Later, Indonesia requested additional loans to cover cost overruns. Purbaya revealed that after restructuring negotiations, China agreed to extend the loan term to 80 years.
Additionally, he revealed that after the complete transfer of equity, the railway will extend about 700 kilometers to Surabaya, the country's second-largest city. However, he did not specify the source of funds for this extension project.
As the first high-speed railway in Indonesia and Southeast Asia, the Jakarta-Bandung High-Speed Railway is also a landmark project that marks the first time China's high-speed railway technology has been implemented on a full system, with all elements and the entire industrial chain. The railway has a total length of 142.3 kilometers, with a maximum operating speed of 350 kilometers per hour. It will reduce the travel time between Jakarta and Bandung from over three hours to just 46 minutes, and it will be officially put into commercial operation in October 2023.
In terms of operational data, the Jakarta-Bandung High Speed Railway has performed remarkably well. In August, Indonesia China High Speed Railway Company released operational data for the first half of 2026, showing that the Jakarta-Bandung High Speed Railway had a total of 10,640 train trips conducted, with a punctuality rate of 99.4%, and a passenger service satisfaction level of 95.79%.
As of July 12, 2026, the Jakarta-Yogyakarta high-speed railway has been operating safely for 1,000 days. The cumulative number of passengers transported has exceeded 16.58 million, with the highest daily passenger volume reaching 26,700 passengers. The high-speed trains have operated safely for over 802,000 kilometers, and a total of 52,730 passenger trains have been operated. The transportation is safe, stable, and orderly. The scale of passenger flow continues to grow, and the overall operational quality is constantly improving. The railway’s positive impact on surrounding areas is becoming increasingly evident. It has gradually made significant progress from its construction and opening to safe and high-quality operation.
