Jakarta, Sept. 18 -- The Indonesian government is in the final stages of acquiring a 60 percent stake in PT Kereta Cepat Indonesia China (KCIC)-the consortium operating the Whoosh high-speed rail line-via the Finance Ministry.

The ministry's Director General of State Assets, Evita Manthovani, stated that the transfer of ownership of the state-backed consortium PT Pilar Sinergi BUMN Indonesia (PSBI) shares to the central government is targeted for completion by mid-September 2026.

"The Finance Ministry is currently conducting due diligence and evaluating the value of the PSBI shares to be transferred," Evita said during a press conference in Jakarta on Friday.

The 60 percent stake was previously held by a consortium of state-owned enter...