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JAKARTA, Sept. 24 (Xinhua) — Indonesia’s Ministry of Investment announced on Tuesday that the country had secured a total of 165 million U.S. dollars from five foreign investors for its new capital city, Nusantara, located on Kalimantan Island.
Minister of Investment Rosan Perkasa Roeslani said in Jakarta that one of the investors was Singapore-based energy company Sembcorp, with an investment value of 65 million dollars, which would build a 50-megawatt solar plant.
“Sembcorp has started construction since last month,” Roeslani said.
The Nusantara project, covering 256,142 hectares in East Kalimantan, began construction in 2022. To fund the massive development, Indonesia is exploring a variety of financial sources, including state funding, international investments, and even crowdfunding from the public.
Investors from different countries are offered various incentives, including an 80-year right of land use permit and import tax exemptions.
Roeslani said the Indonesian government is encouraging more clean energy-based development to attract green investment.
“We hope to see more investments in sectors that contribute to carbon neutrality,” he said. ■
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