(CNN) — A jungle-covered area on the east of Borneo island is set to be transformed into Indonesia’s new capital city.

Concerns over the sustainability of the congested and rapidly sinking political center of Jakarta prompted the need for a new capital. The relocation was announced Monday by President Joko Widodo.

The proposed location, near the relatively underdeveloped cities of Balikpapan and Samarinda, is a far cry from the crowded powerhouse which has served as Indonesia’s financial heart since 1949 — and Widodo acknowledged that moving the country’s capital to the island will be a mammoth and expensive undertaking.