Glembert
KN. Indonesian President-elect Prabowo Subianto disclosed the government’s strategy to finance the new capital city, Ibu Kota Nusantara (IKN), during the Qatar Economic Forum in Doha. He clarified issues related to the projected cost of the ambitious project, amounting to $35 billion or approximately IDR501 trillion over a 25-30 year period.
Indonesia has commenced the third developmental phase of the Nusantara Capital City (IKN) project. Head of the IKN Infrastructure Development Task Force, Danis Sumadilaga, said there are a total of 25 project packages in phase III of IKN development, including the construction of the offices of the National Police and the Ministry of Defense. “The physical progress of batch 3 (phase three) is already at 5.4 percent,” said Danis at the Ministry of Public Works and Housing.
The budget for IKN batch III development is Rp22 trillion. In total, the three project phases are expected to spend Rp74 trillion with 96 project packages. Danis detailed that there are 40 packages in the first developmental batch totaling Rp24.8 trillion. One of the projects included in this contracted batch is the State Palace. The government aims to complete its development by August for the Indonesian Independence Day ceremony.
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