Indonesia and China have agreed to a budget overrun to the tune of $1.2 billion for the first high-speed railway project in the Southeast Asian country, an Indonesian government official told parliament on Monday.
The project was previously estimated to be $2 billion over budget, raising the total cost to 113 trillion rupiah ($7.36 billion), according to the consortium of Indonesian and Chinese state companies building the railway, known as PT KCIC.
