Danantara Indonesia launches natural resources processing projects worth $7 billion

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JAKARTA, Feb 6 : Indonesia's sovereign wealth fund Danantara Indonesia on Friday launched six projects in the natural resources processing sector valued at $7 billion, including a green refinery project by state-run Pertamina, the fund's chief said.

The other projects included construction of alumina and aluminum smelters, an ethanol plant, a palm-oil blended aviation fuel plant, and integrated poultry facilities, said CEO Rosan Roeslani. 

The projects are among the government's 18 priority projects in the natural resources processing sector set to be launched this year with total investment of 618 trillion rupiah ($36.65 billion).

"The president emphasised the acceleration of downstream projects that have direct impact to the people," Roeslani said during the launch.

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Pertamina's refinery plant, located in Cilacap, Central Java province, converts used cooking oil to aviation fuel and has produced 3,000 barrels per day, said Emma Sri Martini, the company director.

It is expected to boost its production capacity to 6,000 barrels per day, Martini added.

The alumina and aluminum smelters are located in West Kalimantan province.

($1 = 16,860.0000 rupiah)

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