Completion of IKN Toll Road, Airport Attracts More Investment

Speaking at the ground breaking ceremony of the Nusanatara Hotel in Indonesia’s new capital, President Jokowi said that he believes once construction of the IKN Nusantara airport and Balikpapan-IKN Nusantara toll road is completed, then investors will be more drawn to invest in the new capital city, adding that these two projects will be the key to attract investment, according to reporting from Antara News.

The Balikpapan-IKN Nusantara toll road will enter the construction phase. The president targets the construction to be completed in July 2024. The toll road will cut travel time from Balikpapan to IKN Nusantara to 30-minutes, as compared to currently around one and a half to two hours.

“The minister of public works and public housing said that the toll road would soon enter its construction phase. It will be completed in July next year,” Jokowi noted.  The IKN Nusantara Airport will begin soon and be completed by July or early August 2024. The travel time between the airport to the IKN Nusantara city center is only 15-minutes, say Antara News.

According to the president, 30-investors from South Korea, 40-investors from Japan, and 120-investors from Singapore had shown interest in IKN. He believes that these investors have carried out careful calculations regarding the economic potential of IKN.

Antara News report that Jokowi said IKN is being built on a long-term basis, with a projected overall completion in 2045. The IKN funding comes from private cooperation and investment, while the state budget only contributed 20-percent of the total funding needed.

Based on data from the Ministry of Finance, the IKN budget allocation in the 2022 – 2024 state budget was IDR 75.5-trillion. In detail, the realization value in 2022 was IDR 5.5-trillion. The 2023 state budget allocation for IKN is IDR 29.4-trillion and IDR 40.6-trillion for 2024.

Source: Antara News

Image: BPMI Setpres/ Muchlis Jr

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