He informed that the projects will involve the downstreaming of nickel, bauxite, refining, storage, coal gasification (DME), fisheries, agriculture, and forestry, as well as the development of the national car battery ecosystem.
"In June, we will conduct groundbreaking for the CATL battery ecosystem in collaboration with state-owned enterprises (SOEs)," he said at a press conference after a meeting with President Prabowo Subianto and several ministers at the Presidential Palace, Jakarta, on Friday.
Regarding the financing, he said it will be sourced from Danantara.
"If the majority of the project is in Indonesia, the majority financing is also from Danantara," he explained.
"However, according to the President's direction, this is a Red and White project. We will try our best to accommodate the majority of the project in Indonesia," the minister added.
On Friday, President Prabowo held a limited meeting to discuss the downstreaming projects with several ministers, including Minister Lahadalia, Marine Affairs and Fisheries Minister Sakti Wahyu Trenggono, SOEs Minister Erick Thohir, and Forestry Minister Raja Juli Antoni.
They further included Minister of Defense, Sjafrie Sjamsoeddin; chief operating officer (COO), Danantara, Dony Oskaria; Minister of State Secretary, Prasetyo Hadi; and Cabinet Secretary, Teddy Indra Wijaya.
After the meeting, Minister Antoni said that the President approved the downstreaming projects proposed by Minister Lahadalia.
"Minister Lahadalia and his team presented the project to President Prabowo, in which the President agreed because the project will increase foreign exchange, reduce our imports, and open more employment opportunities," he explained.
In addition to the downstreaming projects, the government will offer 60 new oil and gas blocks to companies for exploration from 2025 to 2027.
This step is expected to increase oil production capacity to meet domestic needs.
Translator: Genta Tenri M, Resinta Sulistiyandari
Editor: Aditya Eko Sigit Wicaksono
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