The Indonesian Ministry of Finance announced plans to acquire a 60% ownership stake in PT Kereta Cepat Indonesia-China (KCIC), the operator of the Whoosh high-speed passenger service on the Jakarta–Bandung route. The acquisition, expected by mid-September 2026, involves taking control of the Indonesian consortium’s stake in the joint venture currently shared between Indonesian state-owned companies holding 60% and Beijing Yawan HSR consortium holding 40%. The Ministry will then transfer its acquired shares to Danantara, the national state investment agency, while Beijing Yawan HSR retains its 40% stake.
Jakarta-Bandung High-Speed Rail Technical Details
The Whoosh service runs on a 142 km high-speed rail line linking Jakarta
and Bandung. The railway is constructed to Chinese standards with a track gauge of 1,435 mm. It is designed for operational speeds of up to 350 km/h under a 50-year design-build-operate concession. The line commenced operations in 2023 as the first high-speed rail service in Indonesia and Southeast Asia.
Government Objectives and Cooperation with China
The Finance Ministry has structured the acquisition so that Whoosh will be operated by a special purpose vehicle outside the state budget framework, financing operating costs and debt repayments exclusively through revenues and dividends from this entity. The government views this restructuring as key for exerting greater state control and investment
in the high-speed rail sector. It intends to maintain ongoing collaboration with China, particularly regarding potential expansions of the line to Surabaya and Banyuwangi on Java’s eastern end. These expansion feasibility studies are underway at the Ministry for Infrastructure & Regional Development. Meanwhile, the Ministry of Transport regards this financial restructuring as a benchmark for approving future network extensions.
KCIC’s Operational Focus and Ridership Growth
KCIC emphasizes improving operational efficiency and boosting passenger numbers for the Whoosh service through enhanced service quality, customer-oriented innovations, and stronger intermodal connectivity. The company is also developing multiple revenue streams beyond core ticket sales. Since its 2023 launch, the Whoosh
brand—named for the sound of a high-speed train and representing the Indonesian acronym for “waktu hemat, operasi optimal, sistem handal” (Time saving, optimal operation, reliable system)—has carried more than 16.9 million passengers as of the end of July 2026, indicating growing public confidence in the service.
