The Indonesian government continues to promote investment in the Nusantara Capital (IKN), East Kalimantan. Investment Minister/Head of the Investment Coordinating Board (BKPM), Rosan Roeslani, revealed that five foreign investors are interested in injecting capital into IKN. "Yes, five," Rosan said to reporters at the Ministry of Finance’s Dhanapala Building, Jakarta, on Tuesday (24/9). The investors come from two Singaporean companies, China, Australia, and Russia. From Singapore, Sembcorp is constructing a 50 MW solar power plant, while Raffles Education Limited will build the Raffles Education Center in the education sector. “Sembcorp has already started construction for the 50 MW solar plant. Singapore’s Raffles Education Center has also signed an MoU with us,” he added.
Meanwhile, Australia will invest in education through the Australian Independent School, China’s Delonix will build a mall, hotel, and apartments, and Russia’s Magnum Estate will focus on property development. The total investment value from the five foreign investors is estimated to reach USD 165 million or approximately IDR 2.51 trillion (exchange rate IDR 15,200/USD). "Sembcorp’s investment is around USD 65 million, and the combined investment from the others is around USD 100 million," Rosan explained. Groundbreaking for the Chinese, Australian, and Russian projects is planned for this week.
