Indonesian President Joko Widodo stands beside an Electric Multiple Unit high-speed train for a rail link project part of China's Belt and Road Initiative at Tegalluar train depot in Bandung, West Java province, Indonesia, October 13, 2022.
Antara Foto/Hafidz Mubarak/via REUTERSTEGALLUAR, Indonesia, Oct 13 (Reuters) - A high-speed railway project in Indonesia, part of China's Belt and Road Initiative, is on track for a 2023 launch despite ongoing negotiations between the two countries about the project being over-budget, officials said on Thursday.
KCIC has said the project is facing a cost overrun of about $2 billion, raising the estimated total cost to 113 trillion rupiah ($7.36 billion).
KCIC's President Director Dwiyana Slamet Riyadi confirmed the discrepancy in cost calculations, saying negotiations are underway to resolve it.
Dwiyana said discussions were ongoing as to whether Chinese President Xi Jinping may witness a trial run of the rail project when he visits the Southeast Asian country next month for the G20 leaders' summit.