Just across the way from OM Sarawak is the new US$34 billion project Nusantara city in East Kalimantan the new Capital City for Indonesia.
0°57′28″S 116°41′59″EIndonesia Breaks Ground on Its New Capital CityIndonesia has begun clearing land to build the new city of Nusantara from scratch in a bid to alleviate overcrowding in Jakarta and promote equitable economic growth.
By
Faris Mokhtar and
Rieka Rahadiana3 August 2022 at 09:00 GMT+10
Indonesia has started work on its new capital and is on course to complete the city’s first phase of development by 2024 with government funding, according to the top official
overseeing the project.
Eventually, 80% of financing for the $34 billion project will come from the private sector, said Indonesia’s Bambang Susantono in an interview on the sidelines of the World Cities Summit in Singapore. Discussions with investors are ongoing, and Indonesia is likely to consider a bond issuance later on, he said.
Read more here
https://www.bloomberg.com/news/arti...a-breaks-ground-on-nusantara-as-jakarta-sinks
