Kazakhstan’s BI Group Explores Investing in Nusantara
Jakarta. Kazakh construction giant BI Group is exploring investing in Indonesia’s new capital city Nusantara as the company made an on-site visit on Thursday.
Kazakhstan has had experience of relocating its capital. The country decided to make Astana its capital in 1997, replacing Almaty. BI Group was also the leading developer in Astana development.
“BI Group has done many construction works in large quantities and even helped construct a major city [Astana]. From the explanation on the Nusantara project that we have heard, hopefully, there will be some great news when we report back to Kazakhstan,” BI Group’s global business development director Metin Palik was quoted as saying in a recent press statement.
Indonesian Ambassador to Kazakhstan M Fadjroel Rachman claimed that BI Group was Central Asia’s largest construction company.
“The reason why we brought the BI Group here is to get them to invest in Nusantara. With their experience of constructing a new capital and that they are of a multinational company level, we hope that there will be some positive progress after this visit,” Fadjroel said.
Neither Fadjroel nor Palik go into details on the possible area of cooperation that BI Group could work on in Nusantara.
Last year, Kazakh traffic platform Sergek inked a memorandum of understanding (MoU) on connectivity and smart mobility with the Nusantara authority body.
A separate press statement wrote that Sergek would launch its “proof-of-concept” in Nusantara starting on Jan. 30. This three-month-long initiative encompasses Nusantara and the East Kalimantan city of Balikpapan. A proof concept typically aims to demonstrate that a design concept is feasible.
Also in 2023, Nusantara inked a memorandum of understanding (MoU) with Astana for what they called a “sister capital city” cooperation. This partnership encompasses economy, energy, transportation, urban management, and culture.
As of late January, the Nusantara agency has received approximately 350 letters of intent from interested investors.
Government data shows Kazakhstan’s investment in Indonesia totaled $627,200 throughout 2023. The money went to 26 projects.
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