Downstream Investment Reaches IDR 375.4 Trillion, Nickel Smelter Becomes The Largest

Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia. (Photo: Aris Nurjani/VOI)

JAKARTA - Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia reported that the total realization of investment in the downstream sector reached IDR 375.4 trillion throughout 2023.

In detail, in the mineral sector, smelters made a total investment of IDR 216.8 trillion.

Nickel occupies the first position with total investment reaching Rp136.6 trillion. Then bauxite Rp9.7 trillion, and copper Rp70.5 trillion.

For the agricultural sector, where CPO or Oleochemical realized an investment of IDR 50.8 trillion.

The forestry sector of Pluup and Paper earned a total investment of IDR 51.8 trillion.

Meanwhile, the oil and gas (oil and gas) sector, where Petrochemical earned an investment of IDR 46.3 trillion.

Meanwhile, the electric vehicle ecosystem sector made an investment of IDR 9.7 trillion.

"The value of downstream realization reached 26.5 percent of the total investment realization from January to December 2023 which reached Rp1,418.9 trillion," Bahlil said at a press conference at the Office of the Ministry of Investment, Jakarta, Wednesday, January 24.

Bahlil also said that downstreaming has proven to have a good impact on investment revenues entering Indonesia.

He said, economists and officials who criticize downstreaming need to look at the data.

"But I'm still confused, yes, there are still experts or former officials who say that downstreaming is not good, I don't understand where he told me that," he said.

"I think as a villager that the sovereignty of our nation should not be intervened by anyone," he continued.

Bahlil emphasized that the downstream program will continue to be implemented. This is because added value must be carried out in order to reach Indonesia's gold 2045.

"I assure you that we must continue to carry out this downstreaming," he said.