ADRO - To participate in building IKN

ADRO - To participate in building IKN Adaro Energy Indonesia (ADRO) through Adaro Land, one of its non-coal business units, will participate in building Indonesia's new capital city (IKN). Note that, Adaro Land' business includes; the constructions of operational and non-operational supporting facilities, building/space rentals and office buildings management. To show the company' commitment in building IKN, ADRO has joined as one of Nusantara consortium' members, along with 9 other members (Agung Sedayu group, Salim group, Sinarmas group, Barito Pacific group, Pulau Intan, Mulia group, Astra group, Kawan Lama group, and Alfamart group). The government has plotted for the Nusantara consortium to build office buildings, malls, hotels, gardens and other infrastructures in IKN, with total investments of IDR40 tn and could be more. For the 1st phase, the Nusantara consortium will spend around IDR23 tn to build a Nusantara hotel, malls and other supporting infrastructures. Moreover, the 1st phase' groundbreaking was directly inaugurated by Indonesia's President Joko Widodo, last September. (Source: Investor Daily)