Indonesia, the Netherlands, and South Korea have signed a letter of intent (LOI) for a feasibility study on the Jakarta flood protection project, the National Capital Integrated Coastal Development (NCICD) known as the ‘Giant Sea Wall’.
The LOI was signed by Korea International Cooperation Agency representative Choi Sung Ho, deputy mission head of the Dutch embassy in Indonesia Ferdinand Lahnstein, and Indonesian deputy minister of infrastructure Lucky Eko Wuryanto on 3 September.
The new study was commissioned upon the Indonesian government’s request to explore options for the joint realisation of the mega project, which is estimated to worth USD40 billion.
The project will be financed jointly by the Indonesian government, local Jakarta administration, and private investors.
The NCICD project comprises the construction of a giant sea wall just northern of the bay in Jakarta as a measure to protect the capital city against floods from sea. The project will also include other urban development, namely upmarket offices, housing, green areas, and beaches along the wall.
The study is scheduled to be completed in six months’ time from the signing of the LOI.
As the first phase of the NCICD project has already started, the outcome of the new study will focus on the commencement of the second and third phases of the mega project.