Basuki Pursues Private Investment Opportunities To Speed Up IKN Development

Head of the Archipelago Capital Authority (OIKN) Basuki Hadimuljono when delivering a statement at the Presidential Palace complex, Jakarta, Tuesday (5/11/2024). ANTARA/Andi Firdaus

JAKARTA - Head of the Capital Archipelago Authority (OIKN) Basuki Hadimuljono is eyeing private investment opportunities in an effort to accelerate the development process in the capital city of Nusantara (IKN), East Kalimantan (Kaltim) within the next 3-4 years.

Basuki said that currently there are around 500 letter of intent (LoI) containing the intention and agreement of a number of private entrepreneurs to build IKN that needs to be followed up immediately.

"In the past, LoI was not only an investor, it turned out that we mapped there were consultants, contractors, suppliers. We prioritized investors, less than half of that," he said after being inaugurated as the definitive official of the Head of OIKN at the State Palace, Jakarta, Tuesday, November 5, which was confiscated by Antara.

The interest of these investors, said Basuki, is mostly targeting areas II of IKN outside the Central Government Core Area (KIPP).

Asked for his comments regarding the statement by the Minister of Public Works, Dody Hanggodo, who said that the speed of IKN development would be slower than before, Basuki emphasized that his party would stick to the government's commitment to accelerating the completion of development at IKN.

In addition to being mandated by the IKN Law, Basuki also said that the acceleration of IKN development was President Prabowo Subianto's wish so that it could be completed in the next 3-4 years.

"If I have programs and budgets for that long, I'll do it. Already know my style of work, right?" he said.

Basuki said, the IKN's batch 1 construction achievement was 94 percent completed, while batch 2 reached 60 percent more completed, and batch 3 achievement was almost 40 percent completed.

Basuki admitted that he would return to his office in IKN starting Thursday, November 7 to welcome the arrival of members of Commission II of the DPR on the agenda of working visits.

Previously reported, Deputy Minister of Finance (Wamenkeu) II Thomas Djiwandono said that the allocation of IKN development funding in the 2025 State Revenue and Expenditure Budget (APBN) reached IDR 15 trillion.

"It was broken down, for OIKN Rp5.89 trillion and PUPR Rp9.11 trillion," said Thomas Djiwandono in Serang, Banten, Wednesday, September 25.