VINANSIA.COM - The Nusantara Capital Authority (OIKN) has announced that several domestic investors, including Bank Central Asia (BCA) and Intiland, plan to conduct a groundbreaking ceremony in Nusantara, East Kalimantan, in August 2024.

"Of course, the exact date will align with the President of Indonesia's schedule, but we already have 4-5 companies confirmed for the groundbreaking, and Insha'Allah, four of them will proceed as planned," said Agung Wicaksono, Deputy for Funding and Investment at OIKN, in Jakarta on Friday. 

He listed the investors set to participate as BCA, Swiss-Belhotel, Royal Golden Eagle, and Intiland.

Meanwhile, Indonesian Investment Minister and Head of BKPM, Bahlil Lahadalia, has indicated that the execution of foreign investments in the new capital city, Nusantara, will only commence after President Joko Widodo's term ends. 

He explained that foreign projects fall under the second phase and will be handled by the new administration. Currently, only domestic investment projects are being developed under the first phase.

"For the first phase, we are focusing on domestic investments. The second phase will involve foreign investments. Foreign investors have already applied, but construction has not yet begun. I anticipate that construction will start after October."