JAKARTA - President Prabowo Subianto said the government would soon start a number of US$6 billion worth of downstream projects in the next few weeks.
In the inauguration of the Balikpapan Refinery Development Master Plan (RDMP), East Kalimantan, Prabowo said the project was part of a national strategy to accelerate industrialization and increase the added value of natural resources in Indonesia.
According to Prabowo, there are six downstream projects ready to start for the initial phase. In fact, this project has the potential to increase to 11.
"We are also in a few weeks, we will start. We hope that at least six downstream projects, maybe up to 11 (projects). The value is approximately 6 billion dollars (US)," said Prabowo as quoted by ANTARA, Monday, January 12.
Prabowo explained that the downstream project would be accompanied by massive foreign investment.
Therefore, the government pays great attention to the readiness of human resources and project governance.
"I estimate that quite a large investment will come in. For that, we must really prepare the crew, prepare the management, prepare young managers who can maintain and manage these projects," he said.
Prabowo said the ideal industrialization process takes a long time, even up to 10-20 years. However, the government is trying to accelerate the stages through policies and support that are integral.
The President also emphasized that downstream processing is the key for Indonesia in facing increasingly tight global competition.
Having abundant natural wealth, it will not be enough if it is not accompanied by industrial strengthening. According to Prabowo, this wealth ultimately risks not providing optimal benefits for the nation.
In addition, the success of the downstream program is highly dependent on the availability of funding and good management. The government is optimistic that it will be able to achieve the national downstreaming goal with professional and targeted management.
"If we are not strong but we are rich, we can take away our wealth. Therefore, we must work hard on the downstream program. We need money, but I am optimistic with good management, we will be able to achieve the downstream goal," explained the President.
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