Title: Strategic financing management in high-speed rail project development: a systematic literature review

Authors: Indra Putra Salim; Manlian Ronald A. Simanjuntak; Oei Fuk Jin

Addresses: Civil Engineering Doctoral Program, Tarumanagara University, Jakarta, 11440, Indonesia ' The Faculty of Engineering and Informatics, Civil Engineering Department, 17 Agustus 1945 University, Jakarta, 14350, Indonesia ' Civil Engineering Doctoral Program, Tarumanagara University, Jakarta, 11440, Indonesia

Abstract: This systematic literature review explores the financing management of high-speed train projects with cases related to this topic. It plays an active role in overcoming various challenges in the transportation sector, such as congestion, and supporting increased environmental sustainability and intercity connectivity. This large-scale project financing process provides complex challenges because it requires significant financial resources with high management risks. Even though the government provides initial funding, public-private cooperation is still needed to implement this project successfully. Financial risks, including considerations related to construction costs and unexpected policy changes affecting project financing, are always a possibility. Therefore, it is essential to know proactive risk mitigation strategies. Through this systematic review of literature, it is hoped that it will provide knowledge regarding funding sources, methods, and other external factors so that it can be used in developing and making future policy decisions regarding high-speed trains.

Keywords: financing management; high-speed train; project development; strategic implications; transportation sector.

DOI: 10.1504/IJASM.2026.154946

International Journal of Agile Systems and Management, 2026 Vol.19 No.3, pp.334 - 353

Received: 08 Oct 2024
Accepted: 01 Feb 2025
Published online: 20 Jul 2026 *

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