Indonesia sprung a surprise on Thursday, suspending a $5.5-billion high-speed-rail project that is being implemented by a Chinese company and financed by the China Development Bank.
The decision came soon after Indonesian President Joko Widodo attended a groundbreaking ceremony organized by the contractor, PT Kereta Cepat Indonesia China (KCIC), which is a joint venture comprising four state-owned Indonesian companies and China Railway International Co. Ltd.