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The city, PIK 2, is worth about $16 billion and is intended to drive tourism to the area. Bloomberg reported the developers are in touch with partners in China and Singapore to build a port at PIK 2. Indonesian business tycoons are moving ahead with an ambitious real estate project: building a new city in North Jakarta to boost tourism. The publicly traded parent company behind the project — PT Pantai Indah Kapuk Dua — has a $16 billion market capitalization. AdvertisementRepresentatives for Kusuma at PT Pantai Indah Kapuk Dua and Agung Sedayu Group did not respond to requests for comment from Business Insider.
Persons: Agung, Sugianto Kusuma —, Salim, Anthoni Salim, Agung Sedayu, Kusuma, It's, Joko Widodo Organizations: Bloomberg, Salim Group, PT, Hatta, Forbes, Nusantara, Kusuma, Agung Sedayu, Business Locations: North Jakarta, The, China, Singapore, Agung Sedayu, Kapuk, Soekarno, Indonesia, Jakarta, East Kalimantan, Borneo, Kapuk Dua, Agung
Indonesia president breaks ground on airport in new capital
  + stars: | 2023-11-01 | by ( ) www.reuters.com   time to read: +1 min
Indonesia's President Joko Widodo takes the stage to speak about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Nov 1 (Reuters) - Indonesia's President Joko Widodo on Wednesday broke ground on the construction of an airport in the country's new capital city, Nusantara. Jokowi, as the president is known, is this week expected to launch a total of 10 projects worth 12.5 trillion rupiah ($783.85 million) in Nusantara, which Indonesia is building from scratch amid the jungles of Borneo island. The 347-hectare airport is expected to be fully operational by December 2024, the president said, without detailing the total value of the project. The country has allocated 40.6 trillion rupiah for the construction of Nusantara in its 2024 budget.
Persons: Joko Widodo, Edgar Su, Agung, Grup, Ananda Teresia, Stefanno Sulaiman, Kanupriya Kapoor Organizations: Nusantara, REUTERS, Rights, Astra International, Thomson Locations: Singapore, Rights JAKARTA, Nusantara, Indonesia, Borneo, Jakarta, Nusantara .
Indonesia's President Joko Widodo takes the stage to speak about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Nov 1 (Reuters) - Indonesian President Joko Widodo broke ground on Wednesday for construction of several projects ranging from an airport, toll-road and hospital to a hotel in a planned new capital city, Nusantara. The 347-hectare (857-acre) airport is expected to be fully operational by December 2024, the president said, at a total cost of 4.2 trillion rupiah ($263 million). The government targets the second half of 2024 for an international hospital, built by Indonesian hospital chain Mayapada (SRAJ.JK), to become operational. The president said he would break ground on nine projects in December, but gave no details.
Persons: Joko Widodo, Edgar Su, Jokowi, Pakuwon, Agung, Ananda Teresia, Stefanno Sulaiman, Kanupriya Kapoor, Clarence Fernandez Organizations: Nusantara, REUTERS, Rights, Astra International, Thomson Locations: Singapore, Rights JAKARTA, Nusantara, Jakarta, Indonesia, Borneo, Balikpapan, Indonesian
Indonesia President Breaks Ground on Airport in New Capital
  + stars: | 2023-10-31 | by ( Oct. | At P.M. | ) www.usnews.com   time to read: +1 min
JAKARTA (Reuters) - Indonesia's President Joko Widodo on Wednesday broke ground on the construction of an airport in the country's new capital city, Nusantara. Jokowi, as the president is known, is this week expected to launch a total of 10 projects worth 12.5 trillion rupiah ($783.85 million) in Nusantara, which Indonesia is building from scratch amid the jungles of Borneo island. The 347-hectare airport is expected to be fully operational by December 2024, the president said, without detailing the total value of the project. The country has allocated 40.6 trillion rupiah for the construction of Nusantara in its 2024 budget. A consortium of Indonesian companies including energy firm Adaro, conglomerate Astra International, property firm Agung Sedayu Grup, and energy company Barito Pacific have invested about 20 trillion rupiah in Nusantara.
Persons: Joko Widodo, Agung, Grup, Ananda Teresia, Stefanno Sulaiman, Kanupriya Kapoor Organizations: Nusantara, Astra International Locations: JAKARTA, Nusantara, Indonesia, Borneo, Jakarta, Nusantara .
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