Indonesia's KAI gets $450m loan from China to cover bullet train cost

Indonesia's KAI gets $450m loan from China to cover bullet train cost

FILE PHOTO: An electric Multiple Unit high-speed train is seen during Hot Sliding Test in Tegalluar, Bandung, West Java province, Indonesia, May 19, 2023, in this photo taken by Antara Foto. Antara Foto/Raisan Al Farisi/via REUTERS

Indonesia’s state railway company KAI has secured loans totalling nearly $450 million from the China Development Bank (CDB) to fund the increasing cost of constructing the country’s first high-speed railway, the firm said.