MNC Land, KAIA & INDAKO Cooperate to Build Smart City Infrastructure

MNCLand.com – MNC Land through its subsidiary, PT Lido Nirwana Parahyangan (LNP) has signed an MOU with Korea Agency for Infrastructure Technology Advancement (KAIA) and a consulting agreement with PT INDAKO Finance & Development (INDAKO) to support the development of smart city infrastructure in Lido, Bogor that will promote the harmony of innovation, advanced technology and environmental care.

KAIA is the only government agency in the Republic of Korea that has completed technology developments for 160 smart city projects with total investments of more than 900 billion Won, while INDAKO is a company that represents the state-owned enterprise of the Republic of Korea in Indonesia.

This MOU and consultation agreement was signed on March 11, 2016 in Jakarta by Chairman of MNC Group Hary Tanoesoedibjo along with KAIA Chairman Kim Byung-Soo and INDAKO CEO Ki Young-Lee.

The signing of the multilateral agreements aims not only to commence the design and planning process to develop the smart infrastructure in Lido, but also to secure the commitment from the Republic of Korea to support the funding of the Lido project in the form of project financing with multi-year repayment scheme.

Hary Tanoesoedibjo said, “Based on our vision for Lido to create an ultimate sense of pride and belonging in the most iconic live, work and play destination in Indonesia and beyond, this cooperation agreement with the Korean institutions, KAIA and INDAKO, symbolises the ambitious plans of MNC Land to bring world-class infrastructure into Indonesia by developing an unprecedented smart city concept, unseen in this region.”

Meanwhile, the CEO of Korea Agency for Infrastructure Advancement, Kim Byung-Soo said, “Nowadays, smart city has become a hot topic worldwide. The Lido project in Indonesia aims to build a resort destination and world-class environmentally friendly city using smart city technology. With our vast development experiences, KAIA will provide our best efforts in consulting technology for the success of Indonesia’s smart city. Reflecting on this day, with the future success of the Lido project, the present and future smart city institutions in Korea can be a driving force to participate in projects related to the development of other cities in Indonesia.”