President Prabowo Accelerates Downstream Project Worth 38 Billion US Dollars

JAKARTA - President Prabowo Subianto emphasized that a number of downstream projects with a total investment value of 38 billion US dollars, or around Rp. 613.97 trillion (referring to an exchange rate of Rp. 16,157 per US dollar) will be accelerated.

"We will accelerate various downstream projects with an investment value of around 38 billion US dollars," he said in a State Speech in the context of Submission / Information on the Bill on the State Budget for Fiscal Year 2026 along with his Financial Note and Supporting Documents, Friday, August 15.

The downstream projects cover various strategic fields such as eight mineral and coal downstream projects (minerba), three in the agricultural sector, three in the marine and fisheries sector, two energy transition projects, and two projects related to national energy security.

"This project covers various sectors including mineral mining, coal downstreaming, agriculture, fisheries, as well as new and renewable energy," he said.

Previously, Prabowo emphasized that the government was focusing on expanding downstreaming and reminding natural resources (SDA) to be managed for the sake of the people, not for the sake of a handful of people.

"Natural resources must be managed for the sake of the people, not for the sake of a handful of Indonesian human groups. We will expand the Hilirization," he said.

Prabowo said the expansion of downstreaming would have an impact on the opening of wider new jobs, including added value from natural resources management.

Even so, Prabowo emphasized that the added value of the downstream natural resources management must remain in the country.

He warned other countries not to enjoy added value from Indonesian natural resources.

"We will create jobs, we must maximize added value and the added value must remain in our country, Indonesia, not be taken abroad," he said.