PUPR: IKN Nusantara development progress reaches 27%
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - PUPR: Progres pembangunan IKN Nusantara capai 27%
3 May 2023
Jakarta - The Public Works and Housing (PUPR) Ministry said that the construction progress of Nusantara Capital City (IKN) has reached 27%.
“The last time the PUPR Minister reported to the President 1-2 weeks before Eid, he stated that the progress was around 27%,” PUPR Ministry Spokesperson Endra Atmawidjaja said at the PUPR Ministry in Jakarta on Tuesday (2/5/2023).
Endra added that IKN development was continuing with the support of the state budget (APBN) for the project. The support is normal to prove the seriousness of the government in the megaproject.
After that, investors will be interested in investing in IKN. “So, here is the principle. There are many investors who are interested, but they are waiting and seeing. What is the government doing? They will provide subsidies from the APBN. There is no country where investors enter first. None. The government will provide subsidies first,” Endra emphasised.
Hence, the statement of PUPR Minister Basuki Hadimuljono several days ago that stated that there was no investor did not mean that there are no interested investors. However, investors want to observe the development of IKN in the field first that has currently reached 27%.
“From there, we will see the interest. Then, we will see the follow up. There is a process from the letter of interest to the investment entering. So, even if investors are interested, they cannot invest the next day. There is a planning stage, a feasibility study, and detail planning. Then, they can enter. However, we are optimistic about the current development,” Endra said.
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