Riri Rahayu, Jakarta – Sweden is interested in investing in the Nusantara Capital City (IKN) development in East Kalimantan, the head of the IKN Authority, Basuki Hadimuljono, confirmed after meeting the Swedish Parliament delegation on Thursday, January 9, 2025.

"They inquired about technological development on electric vehicles (EV)," said Basuki, as quoted from an official statement. "The deputy ambassador of Sweden for Indonesia will invite some Swedish investors here."

Additionally, the IKN Authority head said President Prabowo Subianto has confirmed that the development project will continue with three resources of funding: the State Budget, private investments, and the public-private partnership.

"Private investments amount to Rp58 trillion thus far. There are some public-private partnerships being discussed for roads, multi-utility tunnels, and housing, from Intiland and Nindya Karya," he said, adding that state budget expenditure for IKN is recorded at Rp68 trillion.

The construction of IKN commenced during former President Joko Widodo's reign, with a total Rp466 trillion budget required. Investments for the new capital development, however, still fall short of target in 2024, amounted to Rp58 trillion out of the Rp100 trillion target.

Thus far, there have been eight groundbreaking projects in IKN, with the next one scheduled for this month.

"There are four or five groundbreaking projects. Hotels, schools, restaurants, and offices," the IKN Authority head said on December 30, claiming that the investment value reached Rp6.5 trillion.

Source: https://en.tempo.co/read/1962347/sweden-interested-to-invest-in-ikn-authority-head-claim