Indonesia picks area on Borneo island as site of new capital: president

Indonesia’s president on Monday announced the capital would be moved to an area that forms part of the North Penajam Paser and Kutai Kartanegara regions in its province of East Kalimantan, on the island of Borneo, reports Trend referring to Reuters.

Widodo said moving the capital from Jakarta would cost 466 trillion rupiah ($32.79 billion), of which the state would fund 19%, with the rest to come from public-private partnerships and private investment.