Indonesia's mining ministry has identified 18 projects, valued at $38.6bn (Rp628.89trn), aimed at developing the nation's natural resources, reported Reuters.
These projects have been proposed for potential investment by Indonesia’s sovereign wealth fund, Danantara, a central element in President Prabowo Subianto's strategy to achieve economic growth of 8% by 2029.
The fund, launched earlier this year, is responsible for managing the shares of state-owned enterprises and reinvesting dividends in commercial ventures.
Energy and Mineral Resources Minister Bahlil Lahadalia has confirmed that Danantara has the capacity to finance and oversee these projects, which are aligned with President Prabowo's priority to boost Indonesia's domestic processing industries.
The projects prioritised for investment cover a diverse range of sectors. Eight are dedicated to the processing of minerals and coal, two aim to bolster energy security, while others focus on energy transition and the processing of agricultural and fishery products. These were presented by Bahlil during the handover ceremony.
Preliminary studies on the projects have been completed by the government, and they are now with Danantara for further evaluation and potential execution.
The list includes plans for oil refineries, storage facilities, solar panel production plants, biofuel production for jets, and iron and alumina smelters.
Danantara's CEO, Rosan Roeslani, who recently announced a $10bn credit line for the fund, stated that investments in these projects would proceed if they aligned with the fund's investment criteria.
Rosan said: "The financing can come from Danantara, state-owned enterprises… We can also even invite domestic or foreign private companies to make sure we can employ the best technology."
