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The Pharaoh project, valued at more than 3.4 trillion francs, is being built in the heart of the Borneo jungle. The forest capital will be inaugurated on August 17, the anniversary of Indonesia’s independence.
Nusantara, built in the middle of the jungle of Borneo island, 1,500 km from Java, is still under construction. But that did not prevent the government from maintaining its inauguration ceremony scheduled for Saturday, August 17, the day the archipelago celebrates its 79th independence anniversary.
The massive project is expected to cost around $32 billion, or 3.4 trillion XPF. But construction delays, funding problems and officials’ reluctance to move there have raised doubts about whether it will actually become the new capital.
President Joko Widodo, better known as Jokowi, has been working on the future capital for weeks. On Monday, he invited dozens of officials, including his successor, Prabowo Subianto, to Nusantara for a government meeting.
The president-elect, who will take office in October, has pledged to continue the project and build the city in five phases by 2045.
Jakarta, a metropolis of 12 million inhabitants, is crumbling under the weight of car traffic and pollution. Threatened by rising water levelsThat prompted Joko Widodo to revive a long-abandoned project to relocate the capital.
The goal: to rebalance development across the vast archipelago of 17,500 islands, which has so far been concentrated on Java.
The decree officially transferring the capital status from Jakarta to Nusantara has not yet been issued and can only be issued after Prabowo Subianto comes to power.
Indonesia is working to attract significant foreign investment. Jakarta will finance 20% of the new city, but will need €5.7 billion (CHF680 billion) in private investment by the end of 2024.
On Monday, Indonesia’s president said he had received only half of that money.
“Not all countries have the opportunity or the ability to build a capital city from scratch”The head of state welcomed the project in an announcement on Monday.
According to Jokowi, the city “It is built according to the concepts of forest city, jungle city and green city.” But conservationists warn that rapid development of the new capital could accelerate deforestation on the island of Borneo, which is home to one of the world’s largest rainforest areas.
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