KCIC Optimistic Whoosh will Take 40 Years to Be Profitable

TEMPO.CO, Jakarta - President Director of PT Kereta Cepat Indonesia China or Indonesia-China High-speed Train Company (KCIC), Dwiyana Slamet Riyadi, expressed optimism that the Jakarta-Bandung high-speed train project would take less than 40 years to be profitable.

“Yes, it’s about 40 years,” Dwiyana said at the KCIC Halim Station on Tuesday, Oct. 17. 

He compared the bullet train’s projected profit to that of other rail projects such as the MRT and LRT. “It's no different, just look at the MRT Jakarta. Besides, KCIC has its own land,” he added.

Dwiyana explained that the calculation of the estimated profit could not be separated from the dynamic ticket pricing, which had already been decided and approved by all shareholders.

In addition, KCIC would not rely solely on ticket sales as there will be rental fees from tenants and sponsors around the station. There are also several related projects currently under consideration. 

“We just have to decide on the naming rights, we have the considerations. For example, if the private sector that is not related to KCIC offers a higher price, we will definitely consider it,” Dwiyana said.

He went on to say that the Transit Oriented Development (TOD) which will be built around the Halim station area will also have a positive impact. “We are holding a beauty contest to find investors who will bring the best-added value to the company,” Dwiyana said.

Dwiyana's statement was in response to the predictions made by a senior economist from the University of Indonesia (UI) Faisal Basri about the profit of Whoosh, which will take at least 139 years. Faisal said he considered several components in the calculation, including the assumption of full passenger occupancy, the number of daily trips, and the fares.

AKHMAD RIYADH | DEFARA DHANYA PARAMITHA | MOH. KHORY AlFARIZI

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