Jakarta. The State Asset Management Agency (LMAN) has spent Rp 2.8 trillion ($178.73 million) for land acquisition related to the construction of Indonesia's future capital, Nusantara (IKN).

“In total, from mid-2023 to October 4, 2024, we have spent Rp 2.8 trillion for IKN,” LMAN President Director Basuki Purwadi said on Monday.

In 2024, LMAN provided funding for land acquisition associated with national strategic projects (PSN) across Indonesia, totaling Rp 10.57 trillion. This includes funding for toll roads worth Rp 7.91 trillion, dams at Rp 1.11 trillion, Nusantara at Rp 1.43 trillion, irrigation at Rp 20 billion, railways at Rp 60 billion, and water-related PSN projects at Rp 50 billion.

“The government’s emphasis is on building an Indonesia-centric framework rather than focusing solely on Java-centric development. Consequently, PSN projects are distributed throughout the country to ensure that all Indonesians can benefit from these initiatives,” he added.

LMAN Director of Land Procurement and Funding Rustanto revealed that his agency has earmarked Rp 5.9 trillion for land acquisition in Nusantara. With the current realization of Rp 2.8 trillion, approximately Rp 3 trillion remains unallocated for land acquisition related to IKN development.

“There are still 12 more projects that can be finalized in 2024 and beyond, with three projects specifically targeted for realization,” he concluded.