Nusantara gets nearly Rp60 tln investments from private parties: OIKN

Jakarta (ANTARA) - The development of Indonesia's new capital Nusantara, which is carried out in stages, has so far received almost Rp60 trillion (around US$3.7 billion) in investments from private parties, according to the Nusantara Capital Authority (OIKN).

"Investments from private parties have almost reached Rp60 trillion. Ignore hoaxes that say this (project) is stalled, that there is no developments, no investments," OIKN Deputy for Social and Cultural Community Development Alimudin said at ASN Festival 2024 here on Saturday.

According to him, in the initial stage until 2024, Nusantara's development focuses on the completion of basic infrastructure construction, such as drinking water infrastructure, toll roads, shopping centers, and several other public facilities such as hospitals and educational facilities.

He noted that investments from private parties have been received for the construction of hotels, housing areas, malls, and schools, among other things.

Alimudin also informed that a construction groundbreaking event will soon take place in Nusantara involving the banking industry.

He affirmed that the OIKN will soon prepare a Presidential Regulation to accelerate the development of Nusantara, because some regulations must be adjusted to needs so that the development acceleration can be achieved in accordance with the completion target in 2045.

The deputy underscored that the Nusantara development process is still long and takes time, adding that the benefits of the new capital development will be seen after 20 years of development.

Furthermore, he also highlighted that Nusantara development is part of big history for Indonesia.

Earlier on Thursday (August 1), Acting OIKN Head Basuki Hadimuljono stated that President Joko Widodo (Jokowi) will hold the first cabinet meeting in Nusantara, which is located in East Kalimantan.

Indonesia will hold the first Independence Day anniversary commemoration ceremony in the new capital on August 17, 2024. The ceremony will be directly led by President Jokowi.