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View all search resultsNetherlands expresses interest to help build $80b giant sea wall project
Dutch state-run financial institution Invest International and the Public Works Ministry signed a letter of intent (LoI) during the Dutch Economic Mission to Indonesia forum on Monday
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A person walks on a cracked sea wall on May 7, 2024, in Kalibaru, Cilincing, North Jakarta. Residents of the
area fear that the wall, which was built to protect the area from
the waves and tide, could collapse at any time. (Antara/Aprillio Akbar)
T
he Netherlands has expressed interest to help build the giant sea wall project spanning along 500 kilometers of Java’s northern coastline, which is expected to cost a whopping US$80 billion.
That was according to a letter of intent (LoI) signed between Invest International, the Dutch state-run financial institution, and the Public Works Ministry during the Dutch Economic Mission to Indonesia forum on Monday, as quoted from Antara.
It encompassed the development of a coastal protection project in Cirebon and Demak, two regions included in the planned regions for the giant seawall, as well as preparation and implementation of water treatment and solid waste management projects.
That day Indonesian and Dutch ministries, universities and private enterprises signed a total of 18 memorandums of understanding (MoUs) and LoIs in multiple sectors, which are estimated to be worth around 800 million euros (US$925.9 million).
MoUs and LoIs are non-binding agreements that can be used as the foundation of a formal contract in the future.
“It’s not only signing contracts. It’s building trust. It’s building partnerships because we want to be a long-time reliable partner for Indonesia,” Dutch Vice Minister for Foreign Economic Relations Michiel Sweers said during the signing.
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