Central Asia's Biggest Construction Company Exploring to Invest in IKN

TEMPO.CO, Jakarta - The Nusantara Capital City (IKN) Authority said that the largest construction company in Central Asia, BI Group, has shown interest in investing in the new capital city. Representatives of the company visited East Kalimantan on Thursday, 22 February.

BI Group is a private multinational construction company from Kazakhstan that has built many large projects in Central Asia. It is the main company that built Astana, a city established in 1997 to serve as the modern capital of Kazakhstan.

IKN Authority deputy for funding and investment Agung Wicaksono said that the high intensity of investors' visits, particularly BI Group's, is a reflection of high interest from overseas private companies.

"This visit of an investor delegation from Kazakhstan to IKN is the second time, facilitated by the Indonesian Ambassador to Kazakhstan and Tajikistan M. Fadjroel Rachman. This week, there have also been two visits from potential investors to IKN," Agung said in an official statement on February 23.

Ambassador M. Fadjroel Rachman said that the Indonesian Embassy in Kazakhstan brought BI Group with the aim of increasing their interest to invest in Nusantara. "With their experience in building a new capital city as well as their status as a multinational company, we hope their visit will bring positive developments."

The ambassador hopes that if the IKN Authority strikes a deal with BI Group there will be follow-up visits, including from the CEO of BI Group. Fadjroel also promised a visit by the President of Kazakhstan to the Nusantara.

On the same occasion, BI Group's director of global business development Metin Palik said the company is serious and ready to be involved in development in the IKN area. He said that the company has carried out a lot of construction work in large quantities, including the entire city of Astana.

The IKN Authority did not provide details on which sector that BI Group will participate in building, nor the potential amount of investment the company will put in.

Previously, the IKN Authority signed a Memorandum of Understanding (MoU) with Sergek Projects, a Kazakh company engaged in technology.