Dewangga Pratama

The future construction is part of the improve in infrastructure development.

Indonesia will build a 100-floor tower worth Rp2 trillion called Menara Kebanggaan Indonesia (literally, Pride of Indonesia Tower). PT Adhi Karya, the construction company on the project, will hold rights issue and have bank loans to finance the project.

President Director of Adhi Karya, Kiswodarmawan, said 70 percent of investment will be acquired from loans while the rest will be covered by rights issue.

In addition, the rights issue is aimed at funding other infrastructure projects such as toll road development and independent power producer (IPP) construction.

Two IPPs worth Rp4.2 trillion of investment which are situated in Palembang and East Kalimantan are on the plan.

Adhi Karya will set up a consortium with three companies, one of which is from Japan, to build the East Kalimantan IPP.

Earlier, Minister of State-owned Enterprises, Dahlan Iskan, revealed Adhi Karya's plot of putting up a 100-floor tower.