LOI Signed for Jakarta’s Giant Sea Wall
- Business & Finance
South Korea, the Netherlands and Indonesia have signed a letter of intent for a study on a joint realization of the National Capital Integrated Coastal Development (NCICD), also known as the ‘Giant Sea Wall’ project.
The LOI was signed in Jakarta on 3 September by vice president Choi Sung Ho of the Korean International Cooperation Agency (KOICA), deputy minister Lucky Eko Wuryanto of infrastructure at the Coordinating Ministry of Economic Affairs, and deputy head of mission Ferdinand Lahnstein of the Dutch embassy in Indonesia.
Following request of the Indonesian government, Korea and the Netherlands will study the options for a joint realization of the mega-project. Based on the outcome of the study the three countries are expected to make a final decision on the start of second and third phase of this mega project.
The new study is expected to be ready in six month.
The second and third phase of the project include a $40 billion megadevelopment, construction of a 32 km long sea wall in the bay of Jakarta.
Dutch and Indonesian experts have been working on the details of the NCICD-plan since 2008, involving a Dutch consortium headed by consultancy firms Grontmij, Witteveen+Bos with subconsultants Dutch research center Deltares, architecture firm KuiperCompagnons and consultancy firm Ecorys.