In a rural part of Indonesia's Java island, two orange-clad workers confer ...
WALLINI, Indonesia - In a rural part of Indonesia’s Java island, two orange-clad workers confer in Mandarin over plans to lay tracks on a stretch of a $6 billion high-speed rail project between the capital Jakarta and the textile hub of Bandung.
When China hosts its second summit of nations that are part of BRI this week, Beijing is likely to showcase the Indonesian project along with its recent success in getting Malaysia’s East Coast Railway Link back on track after months of negotiations. According to a draft communique seen by Reuters, participants at this week’s summit will agree to project financing that respects global debt goals and promotes green growth.
To be sure, there is no sign of any of the BRI countries attempting to re-negotiate deals signed with Beijing. Analysts say China is likely to use its willingness to work with partner nations and make projects feasible to seek more business.Bankers familiar with the deal say the Indonesian project is being constructed under “gold-plated terms”.
“China wanted to deliberately show that its fast train was better than Japan ... we asked for the lowest rate possible and they gave 2 percent,” Rini Soemarno, Indonesia’s minister for state-owned enterprises, told reporters earlier this year. Chinese workers there told Reuters they had been at the site for a year and expected to stay until the project’s completion in 2021. Four new satellite towns will be built by the train consortium along the route.
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