Remarks of President of the Republic of Indonesia at the Groundbreaking Ceremony for the Construction of Magnum Resort Nusantara in Nusantara Capital, East Kalimantan Province September 25, 2024

Bismillahirrahmanirrahim,

Assalamu’alaikum warahmatullahi wabarakatuh,

Good morning,

May peace be upon us all,

Distinguished Minister of Investment, Minister of Transportation, Minister of Tourism, Chairperson of Nusantara Capital Authority,

Distinguished Governor of East Kalimantan and all ranks of the administration,

Distinguished Mr. Igor Maximov, Mr. Stanislav Sadovnikov, and Mr. Bobby Sumantri,

Distinguished Board of Directors of PT Magnum Investment Nusantar,

Distinguished Guests,

Travel time from Balikpapan to Nusantara Capital currently ranges from one and a half to over two hours. However, once the toll road is completed at the end of the year, the trip will be reduced to just 40 to 50 minutes. If there are delays, construction is expected to be completed by mid-2025.

Nusantara Airport is under construction. I landed there yesterday and the plane touched down smoothly on the apron. The airport is expected to be fully completed by December this year. Once the toll road is operational, the trip from the airport to the capital will take approximately 15 minutes. This development showcases the significant potential in our new capital, particularly for our Russian investors.

I asked Mr. Igor and Mr. Stanislav their opinions about the capital. They told me, “This is the best location I have ever seen.”

We hope this investment shows that everyone has the opportunity to invest in Nusantara as it evolves into a global city. With all its world-class facilities, Nusantara will become an international hub. We are also looking forward to more investors initiating groundbreaking projects in the future.

Today, we are holding a groundbreaking ceremony for the construction of Magnum Resort Nusantara, a luxurious and exclusive residential area built with an investment of around Rp300 billion on a land of 1.3 hectares. Magnum Resort in Nusantara will offer high-quality property options, providing greater freedom of choice for those who wish to live in Nusantara.

That concludes my statement, and by saying bismillahirrahmanirrahim,  I hereby declare the construction of Magnum Resort Nusantara begin this morning.

I thank you.

Wassalamu’alaikum warahmatullahi wabarakatuh.

(DH/EP)