Indonesia's Danantara fund launches natural resources processing projects worth $7 billion
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
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 energy 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 ($36.7 billion).
"The president emphasised the acceleration of downstream projects that have direct impact to the people," Roeslani said during the launch.
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
This service is not intended for persons residing in the E.U. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp’s partners.
Loading
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 bioethanol plant in East Java, developed by Pertamina and state-owned plantation firm Perkebunan Nusantara, is expected to have 30,000 kilolitres of production capacity per year.
The alumina and aluminum smelters located in West Kalimantan province have planned production capacity of one million metric tons and 600,000 tons per year respectively.
Danantara will also develop poultry facilities in 30 locations and seeks to produce 1.5 million tons of chicken meat and one ton of eggs, it said.
($1 = 16,860.0000 rupiah)
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app