JAKARTA, July 13 (Xinhua) -- Indonesia's sovereign wealth fund Danantara is developing 26 strategic downstream projects worth 225 trillion rupiah (about 12.4 billion U.S. dollars) to increase the domestic added value of the country's natural resources, the fund said Monday.
The projects are expected to create 37,833 jobs.
"Downstreaming not only generates investment, but also creates jobs, drives regional economies and ensures that added value is retained domestically," Danantara Chief Operating Officer Dony Oskaria said in a statement.
According to Oskaria, the projects are being implemented in two phases.
The first phase, launched with a groundbreaking ceremony on Feb. 6, covers six priority projects across 13 locations, involving an investment of 109 trillion rupiah and expected to create 11,456 jobs.
The second phase, launched on April 29, comprises 10 priority projects at 13 locations, with a total investment of 116 trillion rupiah and projected employment of 26,377 workers.
The projects span strategic sectors including mining, energy and food. They include aluminum, stainless steel and copper smelters, as well as facilities producing sustainable aviation fuel and bioethanol, palm oil and coconut processing plants, and integrated poultry farming projects. Enditem
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