Published on 03/01/2024 at 12:59 GMT+7 Reading time
The Capital City Authority of Nusantara says that It has secured substantial investment commitments of Rp 55 trillion (US$3.5 billion) from foreign investors (PMA) for mega projects development in the Capital City of Nusantara (IKN).
Agung Wicaksono, Deputy Finance and Investment of the Nusantara Capital Authority, explained that the Rp55 trillion foreign investment commitment would be directed for housing construction, particularly residences for civil servants (ASN).
"The Public-Private Partnership (PPP) residential project to build housing for ASN is approximately worth Rp 55 trillion," Agung told a media conference on December 29, 2023.
He exlained that several countries, including China and Malaysia, have expressed their commitment to inves in housing infrastructure projects in IKN. He cited Chinese investor, Citic Construction, that will construct 60 apartment units for civil servants of the Ministry of Defense. In addition, two Malaysian companies, Maxim and IJM, will build 10 and 20 apartment units for civil servants in IKN, respectively.
"So, when the process of PPP completion is done, and groundbreaking has taken place, at least Rp 55 trillion of this foreign investment will start to materialize," Agung said.
The authority is also actively seeking maximum investment opportunities from potential foreign investors interested in supporting technological development in IKN. Currently, six countries, namely South Korea, the United States, France, China, Germany, and Finland have shown their interest to invest in technology development in the new capital city.
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