Update COVID-19 in Indonesia: 70,736 confirmed infections, 3,417 deaths (9 July 2020)
6 July 2020 (closed)
USD/IDR (14,501) +55.01 +0.38%
EUR/IDR (16,343) -41.31 -0.25%
Jakarta Composite Index (5,052.79) -23.38 -0.46%
On Thursday (03/09), officials from the Netherlands, South Korea and Indonesia signed a letter of intent for a joint study of the second and third phase of the giant sea wall project (National Capital Integrated Coastal Development, abbreviated NCICD) off the coast of Indonesia’s capital city of Jakarta.
South Korea and the Netherlands pledged to set aside USD $9.5 million and USD $8.5 million, respectively, in grants for research on undersea currents and soil structure off the coast of Jakarta as well as other follow-up studies. Studies should be completed by 2017 and will form a basis for the government’s decision whether or not to continue with the realization of this mega-project. South Korea is set to start its study before the end of this month. The second and third phase of the project involve the construction of a massive reservoir in the bay of Jakarta. This reservoir acts as a flood control system and water source for the surrounding Jakartan population.
The NCICD is an ambitious +USD $40 billion mega-project aimed at enhancing flood prevention, urban development and - more generally - will turn Jakarta into a more prestigious metropolis. In October 2014, the Indonesian government and the Netherlands started with the project’s first phase, which involves the strengthening of existing retaining walls on the coastal line of Jakarta.