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Indonesia eyes 14 billion USD for downstream industry expansion

Energy and Mineral Resources Minister Bahlil Lahadalia said the new pipeline builds on an earlier batch of 20 downstream industrialisation projects, primarily in energy, mining, and agriculture, overseen by sovereign wealth fund Danantara.

Hanoi (VNA) – The Indonesian Government is planning to launch 13 additional downstream industrial projects with total investment estimated at 239 trillion IDR (approximately 14 billion USD), aiming to accelerate resource deep processing and strengthen the country's industrial foundation.

Energy and Mineral Resources Minister Bahlil Lahadalia said the new pipeline builds on an earlier batch of 20 downstream industrialisation projects, primarily in energy, mining, and agriculture, overseen by sovereign wealth fund Danantara. Some of those projects have already broken ground, while others are scheduled to begin next month, Bahlil said. Total investment for the initial batch is estimated at 26 billion USD.

Projects that have entered the construction phase include an aluminum smelter in Mempawah, an aviation biofuel facility in Cilacap, and a bioethanol plant in Banyuwangi.

Through these initiatives, President Prabowo aims to strengthen Indonesia’s energy and food self-sufficiency while boosting export value by adding downstream processing to the country’s natural resource commodities, Jakarta Globe reported./.

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