A consortium comprising PT Adaro Energy Indonesia Tbk and Astra International has invested around USD1.3 billion in the development of Indonesia’s new capital city – Nusantara. Further details, including what sector or project will be funded, have not been released yet.
The Government of Indonesia has announced that around 80 per cent of the total cost of the capital city project will be financed from private investments, with a preference for domestic sources. Additionally, around USD2.64 billion has been earmarked from the 2024 national budget for the construction of Nusantara.
