Danantara Indonesia Prepares Turnaround Plan for Railway Industry INKA

RRI.CO.ID, Jakarta - Danantara Indonesia is preparing a turnaround plan for state‑owned railway manufacturer PT INKA, citing balance sheet pressures as one of the reasons the company requires comprehensive restructuring.

Head of the State‑Owned Enterprises Management Agency (BP BUMN) and COO of Danantara Indonesia, Dony Oskaria, said INKA is currently facing negative equity, unsustainable debt of IDR 4.7 trillion (approximately USD 265.68 million), and losses amounting to IDR 670 billion.

These conditions, he said, require fundamental changes for the company to recover.

“We want to implement a company turnaround. And this turnaround can only be achieved if we share a common commitment to improving this company through proper governance,” Dony said in a statement in Jakarta on Tuesday, September 15, 2026, as quoted by Antara.

According to Dony, INKA’s restructuring cannot rely solely on financial improvements. Danantara Indonesia will push for reforms in the business model, corporate governance, work culture, production quality, operations, engineering, finance, and business processes.

All of these initiatives will be incorporated into a grand plan for integrated transformation, which will serve as a guideline for management to execute the turnaround consistently.

Dony emphasized that commitment across the entire company is critical for the recovery process. Strong governance is necessary to ensure that improvements do not stop at resolving short‑term financial issues.

INKA’s transformation is also considered strategic for the national railway manufacturing industry. As Indonesia’s national railway manufacturer, INKA plays a key role in driving industrialization, creating jobs, and strengthening the railway supply chain.

Danantara Indonesia aims for INKA not only to emerge from financial pressure but also to become a more efficient and competitive train manufacturer in the global market. “I hope that the national railway industry will make real advances, in line with the President’s vision,” Dony said.

Improving financial foundations and governance will serve as the basis for this transformation. With an integrated turnaround, INKA is expected to regain the capacity to grow while strengthening Indonesia’s railway industry. ***