Indonesian Old Money Moves in Nusantara Capital City Project
Summary
- Indonesian legendary conglomerates, including Aguan, Antony Salim, Franky Widjaja, Sukanto Tanoto, Ciputra Group, and more, are collaborating with the government for the IKN Nusantara mega project, aiming to move the capital to East Borneo. Some are set to launch projects this September.
- Three companies are in competition for the IKN hydropower project, with a legal dispute involved.
- Indonesia is exploring investment opportunities with nearby countries, Malaysia and Brunei Darussalam. The Chamber of Commerce and Industry (Kadin) plans to establish the Borneo Economic Roundtable Discussion with a primary focus on IKN.
- Presidential candidates and political parties have varying stances on the IKN mega-project. Some support its continuation, while others raise concerns about fiscal implications. Efforts are underway to revise laws to ensure project continuity.