Indonesia consortium invests US$1.3b in new capital
newscatcher
2023-09-24 15:32
Indonesia consortium invests US$1.3b in new capital
JAKARTA A consortium of Indonesian companies, including energy firm Adaro and conglomerate Astra International, have invested about 20 trillion rupiah (US$1.3 billion) in the country's new capital city, according to the local authority. Indonesia has been courting private investors in the US$32 billion city, known as Nusantara, to move the capital away from congested Jakarta to Borneo island. Aside from Adaro and Astra, the consortium also includes property firm Agung Sedayu Group, retailer Alfamart group, energy company Barito Pacific, conglomerates Sinarmas and Salim Group, among others, the Nusantara authority said in a statement late on Thursday.

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