While no major investors have officially handled the project, Hadi noted that several parties have made informal offers.
"Several (investors) have expressed offers informally, including those from China and Korea," he stated when met at the Presidential Palace in Jakarta on Tuesday (June 17).
He explained that the government is continuing preparations for the giant sea wall project, which has been included in the National Development Planning Agency (Bappenas) planning since 1995 and is set to be launched soon.
According to Hadi, the giant sea wall, spanning 500 kilometers from Banten to Gresik in East Java, aims to address issues of tidal flooding and land subsidence along Java's north coast.
"In several scientific forums and academic forums, they have reported the lowering of our land surface, a phenomenon known as subsidence. During high sea tide, the flooding hits residents along the north coast of Jakarta, putting them in a precarious situation," Hadi pointed out.
He remarked that the project is still in the coordination stage among ministries and regional governments, including DKI Jakarta, Banten, and West Java.
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Hadi estimated the project to cost up to Rp1,297 trillion (US$77 billion) and is expected to begin this year.
Earlier, President Prabowo Subianto explained that constructing the giant sea wall would require at least Rp1,297 trillion and could take up to 20 years to complete.
Specifically for the Jakarta Bay embankment, the construction may take eight to 10 years, with a budget allocation sourced from the regional budget of US$8-10 billion.
The head of state also announced plans to form a special institution, the North Coast of Java Sea Wall Authority Agency, to handle this project.
"If the sea wall extends to East Java, (the project) might take 20 years or 15 to 20 years. It is no problem. There is an old saying 'a journey of one thousand kilometers begins with a single step.' We will start that immediately," he stated.
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Translator: Mentari Dwi G, Resinta Sulistiyandari
Editor: Rahmad Nasution
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