Danantara to develop 26 downstream projects worth US$12.4 billion

Jakarta (ANTARA) - Indonesia's sovereign wealth fund Danantara is developing 26 downstream industrial projects worth Rp225 trillion (about US$12.4 billion) to boost value-added processing and create nearly 38,000 jobs, Chief Operating Officer Dony Oskaria said.

The portfolio spans mining, energy and agriculture, including aluminum, stainless steel and copper smelters, sustainable aviation fuel, bioethanol, palm oil processing, coconut industries and integrated poultry farming.

"Downstream industrialization not only attracts investment, but also creates jobs, boosts regional economies and ensures more value added remains in Indonesia," Oskaria said on Monday.

The projects are being rolled out in two phases. Phase I, launched on Feb. 6, covers six priority projects across 13 locations with Rp109 trillion (about US$6 billion) in investment.

The first phase is expected to create 11,456 jobs. Phase II, launched on April 29, includes 10 priority projects across 13 locations with Rp116 trillion (about US$6.4 billion) in investment.

The second phase is projected to generate 26,377 jobs.

"Downstream industrialization must deliver tangible benefits to the national economy, not only through investment but also through its impact on society," Oskaria said.

Danantara said the projects underscore its commitment to strengthening Indonesia's industrial base while supporting more inclusive economic growth.

The investments are expected to increase domestic value-added, expand employment and deliver long-term economic benefits for Indonesia.

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Translator: Putu Indah, Kuntum Khaira

Editor: Rahmad Nasution

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