Indonesia's President Prabowo to Spend $3 Billion on New Capital City Through 2029

INDONESIA - JAKARTA. Indonesia's new President Prabowo Subianto plans to spend 48.8 trillion rupiah ($2.99 billion) through 2029 to build the new capital city "Nusantara", with a target of relocating the government there by 2028, the project's chief said on Tuesday.

Construction of the $32-billion Nusantara in the jungle of Borneo island, a legacy project first started by former president Joko Widodo, began in 2022 after years of delay due to the pandemic.