Jakarta, Aug. 6 -- Indonesia's Finance Ministry is set to acquire a 60 percent stake in PT Kereta Cepat Indonesia-China (KCIC), operator of the Jakarta-Bandung high-speed railway (HSR), with the process expected to conclude by mid-September.

"The stake will be handed over by Danantara to the Finance Ministry. We will expedite the process to ensure its conclusion by September," Finance Minister Purbaya Yudhi Sadewa told reporters on Wednesday.

The 60 percent stake was held by a state-owned enterprise consortium through PT Pilar Sinergi BUMN Indonesia (PSBI), while the remaining shares will remain with China's Beijing Yawan HSR Co. Ltd.

Following the acquisition, the Jakarta-Bandung HSR, also known as Whoosh, will be operated by "special...