November 8, 2025 | 02:36 pm
TEMPO.CO, Jakarta - State-owned construction firm PT Waskita Karya Tbk. announced that it is currently working on 13 projects in Indonesia’s new capital city, Nusantara (IKN), with a total contract value reaching Rp8.7 trillion.
“Most of the IKN projects have been completed,” said Thufeil Muhammad, Head of Waskita’s Investor Relations Department, in a disclosure to the Indonesia Stock Exchange (IDX) quoted on Saturday, November 8, 2025.
This year, Waskita secured a new contract in the capital city, covering the construction of the Judicial Complex Area Road and the improvement of Road D in the Core Government Center. “Waskita continues to play an active role in developing IKN,” Thufeil added.
Another state-owned builder, PT PP (Persero) Tbk., has also signed a contract with the Head of the IKN Authority, Basuki Hadimuljono, for the Judicial Complex Area Road Project valued at Rp1.9 trillion. The project is being carried out under a joint operation (JO) scheme, with PTPP holding a 25 percent stake.
The project covers several strategic road sections in the Judicial Complex Area, including Sections 36, 16 and 2, Section 17, the Botanical Section, and the West Gate Section, along with connecting bridges between the main routes.
Basuki said that IKN’s ongoing construction demonstrates the government’s commitment to sustaining national economic growth through a combination of state funding, public-private partnerships (PPP/KPBU), and private investment.
President Prabowo Subianto has approved a continuation budget for IKN development for 2025–2029, amounting to Rp48.8 trillion. The project’s financing will not rely solely on the state budget (APBN) but will also involve domestic and international investors.
According to the IKN Authority, total investment commitments have reached Rp225.02 trillion, comprising Rp66.3 trillion in direct private investment and Rp158.72 trillion through the KPBU scheme. The funds will be used to build roads, underground utility tunnels (multi-utility tunnels), and residential areas within the new capital.
Investor confidence, Basuki noted, reflects the stability of Indonesia’s economy and reinforces the foundation for IKN’s development, which continues under the strong backing of the head of state.
“The progress of IKN is a result of close synergy between the government, businesses, and society. This collaboration is the key to realizing IKN as a transparent and sustainable center of government,” Basuki said in Sepaku, Penajam Paser Utara, East Kalimantan, on Wednesday, November 5, 2025, as quoted by Antara.
Editor’s Choice: Indonesian Police Arrest Illegal Coal Mining Investor in IKN
Click here to get the latest news updates from Tempo on Google News
Indonesian Police Arrest Illegal Coal Mining Investor in IKN
1 hari lalu
Bareskrim arrests illegal mining investor in IKN after two months on the run.
IKN Authority Head Reveals Rp225 Trillion in Investment Commitments
2 hari lalu
The investment commitment in the IKN includes Rp66.3 trillion in private investments and Rp158.72 trillion through the public-private partnership.
Indonesia to Build Legislative and Judicial Complexes in New Capital IKN
4 hari lalu
The Nusantara Capital City (IKN) Authority will begin construction on supporting areas for legislative and judicial offices in October 2025.
Indonesia's IKN Construction to Proceed Despite Worker Housing Fire
35 hari lalu
Spokesperson of the IKN Authority, Troy Pantouw, stated that the incident of the fire at HPK Satu Tower 14 IKN has been handled well.
No Casualties Reported in IKN Worker Residence Fire, Authorities Confirm
35 hari lalu
Spokesperson of IKN Authority stated that it took almost three hours for the firefighters to put out the fire in the four-story tower with 608 construction workers at IKN.
Indonesian Parliament to Inspect Fire Sites and Response at IKN
36 hari lalu
The House of Representatives calls for the swift and proper handling of the fire incident at IKN to prevent it from spreading to other buildings.
Why Prabowo Designated Nusantara as Indonesia's Political Capital in 2028
45 hari lalu
State Secretary Minister explained President Prabowo Subianto's decision to designate Nusantara Capital (IKN) as Indonesia's political capital.
BRIN Predicts Water Supply in Indonesia's New Capital Using Satellites
46 hari lalu
Without accurate data on water availability, BRIN estimates that the development project in IKN may be hindered by a potential water crisis.
Prabowo Makes IKN Political Capital by 2028: What It Means
47 hari lalu
President Prabowo Subianto has designated the Nusantara Capital (IKN) in East Kalimantan as the nation's "political capital" by 2028.
Why Prabowo Wants IKN to Serve as the Political Capital by 2028
48 hari lalu
President Prabowo Subianto has set Nusantara Capital City (IKN) in East Kalimantan as the political capital of Indonesia starting in 2028 with various indicators.
