JAKARTA, Feb. 24 (Xinhua) -- Indonesia's newly inaugurated sovereign wealth fund, Daya Anagata Nusantara (Danantara), will prioritize investments in mineral processing, artificial intelligence (AI), and renewable energy as it begins operations, Indonesian President Prabowo Subianto announced on Monday.

Danantara, a super holding agency designed to consolidate the management of Indonesian state-owned enterprises while optimizing dividends and investments, was launched by Prabowo in the presence of former presidents Joko Widodo and Susilo Bambang Yudhoyono.

With an initial investment of 20 billion U.S. dollars, the agency aims to drive strategic projects focused on industrialization and technological advancement. Key sectors include nickel, bauxite, and copper processing, AI, and renewable energy.

"Approximately 20 strategic projects worth billions of dollars will focus on downstream nickel, bauxite, and copper processing, the construction of AI data centers, oil refineries, petrochemical factories, food and protein production, aquaculture, and renewable energy," Prabowo said.

He added that Danantara is expected to become a major capital management institution in Indonesia, with projected assets of around 900 billion dollars, operating similarly to Singapore's Temasek Holdings. Enditem

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