Prabowo Approves 18 Downstream Projects Worth IDR 720 Trillion
- VIVA.co.id/Yeni Lestari
Jakarta, VIVA – Indonesian President, Prabowo Subianto, summoned several ministers and members of the downstream task force to the Merdeka Palace in Jakarta on Friday (May 23) to discuss the acceleration of national downstream projects.
This meeting focused on follow-up actions regarding priority downstream initiatives spanning various strategic sectors.
During the meeting, President Prabowo approved 18 downstream projects with a total value of US$45 billion or IDR 720 trillion.
"The total investment is approximately US$45 billion, and we will begin implementation immediately," said Minister of Energy and Mineral Resources, Bahlil Lahadalia, following the meeting.
Menteri ESDM, Bahlil Lahadalia di Kompleks Istana Kepresidenan Jakarta (sumber: Biro Pers Sekretariat Presiden)
- VIVA.co.id/Yeni Lestari
According to the minister, these projects will soon move into the physical development phase, with groundbreaking scheduled for June.
He also emphasized that these projects are among the President’s top priorities.
"Everything has been thoroughly discussed. This is a collaboration between the downstream task force, the Ministry of Investment, and other relevant technical ministries," minister lahadalia explained.
The projects include the downstreaming of nickel and bauxite, the construction of refineries and storage facilities, and development in strategic sectors such as fisheries, agriculture, plantations, and forestry.
Another major focus, the minister dded, is the development of a battery industry ecosystem for electric vehicles, a critical step toward national industrial self-reliance.
"So far, we’ve only played a minor role, but now we want to take the lead. We've been building a battery ecosystem for cars, but moving forward, we’ll also develop one for motorcycles. With around 140 million motorcycles on our roads, this is key to reducing fuel consumption and advancing the energy transition," he explained.
On the matter of financing, the minister stated that most of the project funding is expected to come from the national entity, Danantara.
Share ownership in these projects, he stressed, will remain under state control as directed by President Prabowo.
"Following President Prabowo’s directive, these are ‘red and white’ projects. That means we will strive to ensure majority ownership stays with the state," the minister concluded.
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