According to a report by Reuters on September 8, on Tuesday local time, Indonesian Finance Minister Pulbaya revealed that Indonesia will change the controlling shareholder of the Yawan High Speed Rail next week. Pulbaya said last month that agencies under the Ministry of Finance will acquire 60% of the shares of high-speed rail operating companies, while Chinese companies will retain 40%. But he further explained on Tuesday that the authorities are considering transferring 60% of the shares to the Indonesian Investment Authority or Sarana Multi Infrastructure Company, a development finance agency under the Ministry of Finance. The transfer of shares is expected to be completed on September 15. Pulbaya did not specify whether the current shareholders — a consortium led by the national railway company Kereta Api Indonesia — will be compensated for the share transfer, but said the new shareholders will be responsible for repaying the project's outstanding loans. According to reports, the original term of the 4.5 billion US dollar loan provided by the China Development Bank was 40 years, and there was a 10-year grace period. Since then, Indonesia has added additional loans to cover cost overruns. Pulbaya revealed that after restructuring negotiations, China agreed to extend the loan period to 80 years. Furthermore, he revealed that after the full transfer of shares, the railway will be extended about 700 km east to Surabaya, the country's second-largest city, but he did not specify the source of funding for the extension project.

According to a report by Reuters on September 8, on Tuesday local time, Indonesian Finance Minister Pulbaya revealed that Indonesia will change the controlling shareholder of the Yawan High Speed Rail next week. Pulbaya said last month that agencies under the Ministry of Finance will acquire 60% of the shares of high-speed rail operating companies, while Chinese companies will keep 40%. But he further explained on Tuesday that the authorities are considering transferring 60% of the shares to the Indonesian Investment Authority or Sarana Multi Infrastructure Company, a development finance agency under the Ministry of Finance. The transfer of shares is expected to be completed on September 15. Pulbaya did not specify whether the current shareholders — a consortium led by the national railway company Kereta Api Indonesia — will be compensated for the share transfer, but said the new shareholders will be responsible for repaying the project's outstanding loans. According to reports, the original term of the 4.5 billion US dollar loan provided by the China Development Bank was 40 years, and there was a 10-year grace period. Since then, Indonesia has added additional loans to cover cost overruns. Pulbaya revealed that after restructuring negotiations, China agreed to extend the loan period to 80 years. Furthermore, he revealed that after the full transfer of shares, the railway will be extended about 700 km east to Surabaya, the country's second-largest city, but he did not specify the source of funding for the extension project.