JAKARTA, Jan 28 — The Nusantara Capital Authority (OIKN) has agreed to work together with multi-sectoral region-owned enterprises in East Kalimantan Province to construct and develop Indonesia’s new capital city (IKN) Nusantara.

During the Nusantara Fair 2024 being held in Jakarta from January 26-28, the authority inked cooperation agreements with East Kalimantan region-owned firms that run business in electricity provision, clean water supply, sea transportation, and construction materials, reported Antara.

"By forging close collaboration, we are expecting to see positive and sustainable impacts on the people and environment around Nusantara,” OIKN Secretary Achmad Jaka Santos Adiwijaya remarked in Jakarta yesterday.

He noted that the collaboration serves as a crucial milestone for Indonesia towards realising its vision of sustainable development of IKN Nusantara.

Adiwijaya then emphasised that the agreements reached constitute testaments to the OIKN’s commitment to involving vital sectors in society in developing Indonesia’s future capital city.

In detail, the OIKN established collaboration with four East Kalimantan enterprises, namely Kukar Sejahtera Dambaan Etam, PT Mahakam Gerbang Raja Migas, Tirta Mahakam, and Tunggang Parangan Kutai Kartanegara.

To stay true to the principle of good governance, the OIKN has been tightly selecting business actors seeking to invest their capital in Nusantara. The authority only accepts investors that can conform to the vision of building Nusantara as a smart capital city.

The OIKN has set Rp100 trillion (RM29 billion) as the targeted total value of investment flowing to IKN Nusantara this year while welcoming both domestic and foreign investors.

Domestic conglomerates have been making contributions to the development of Nusantara by working on mixed land areas at the city’s development site.

In addition to investments, the government is allocating a portion of the State Budget (APBN) and opting for public-private partnership schemes to fund the development of the new capital city in East Kalimantan. — Bernama-Antara