"The construction of infrastructure for waterways, reservoirs, sanitation, and buildings takes around three to four years," Public Works and Housing Minister Basuki Hadimuljono noted in a statement, Tuesday.
Hence, he estimated the relocation process to be completed by 2024.
Hadimuljono remarked that the construction and relocation of the new capital city is estimated to take nearly four years and cost Rp466 trillion.
He revealed that 19 percent of the cost would be sourced from the state budget, and that was mainly from the cooperation scheme in terms of managing existing assets in the new capital and DKI Jakarta.
The rest of the funding will come from the public private partnership (PPP) scheme and direct investment from private companies and SOEs.
"The state budget to be used for infrastructure development is a multi-year budget, so it is not allocated all at once in the current state budget," Hadimuljono explained.
The process of developing a new capital city in East Kalimantan will be divided into three clusters of the preparation and development process.
First, the design of the area and spatial planning of the new capital city is targeted for completion until mid-2020.
Secondly, for basic infrastructure, such as roads, dams, water treatment plants, and sanitation, designs will be prepared from now on until mid-2020 for physical development due to its location.
"The design and building process is the same as what was done while renovating GBK (National Stadium), so that the innovation can be done quickly," he stated.
Finally, central government buildings will be constructed.
Source: Antara News