Minister of Investment/Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, provided updates on the investment plans of Djarum Group and Wings Group in the Indonesian Capital City (IKN).

He ensured that the heavyweight companies − Djarum and Wings Group − would invest in the development projects of IKN. He said that both giant companies would commence their investments in IKN's development this year, following the completion of the general elections.

"I have got reports that Sukanto Tanoto, Djarum Group, and Wings Group will be entering IKN this year," Bahlil said Monday, April 29, 2024.

At the same time, he clarified the reasons why these two companies were not included in the Nusantara Consortium led by Agung Sedayu Group's Boss, Sugianto Kusuma or Aguan.

He cited among the reasons was the difference in the investment timeline targets between Djarum and Wings Group and the Nusantara Consortium.

"They [Djarum and Wings] want to join. But, the consortium wants speed. So, in the future, they will surely enter [invest in IKN]," Bahlil said.

It is worth noting that the Head of Corporate Communications & CSR of WINGS Group Indonesia, Sheila Kansil, had said earlier that their commitment included building a non-profit botanical garden in IKN.

"We confirm that Wings Group will remain participating in the Nusantara Consortium which is non-commercial, one of which is the construction of the Botanical Garden," she said.

Meanwhile, Djarum Group also expressed interest in developing a botanical garden in IKN, which would be carried out by the Bakti 5 Djarum Foundation rather than through the Nusantara Consortium. However, until now, the exact amount of investment that these two giant companies will inject into IKN is unknown.