Indonesia Launches 13 Second-Phase Downstreaming Projects Worth $6.7 Billion
Cilacap, Central Java – Indonesian President Prabowo Subianto launched the groundbreaking ceremony for 13 second-phase downstreaming projects on Wednesday, April 29, 2026, with the main event held in Cilacap, Central Java. The projects represent a total investment of 116 trillion rupiah, equivalent to approximately $6.7 billion USD, according to a statement from Xinhua.
Project Breakdown
The downstreaming projects span three key sectors: energy, minerals, and agriculture. Specifically, the investment includes five projects in the energy sector, five in minerals processing, and three focused on agricultural development. President Subianto emphasized that downstreaming is a crucial strategy for driving industrialization and bolstering domestic economic growth while reducing Indonesia’s reliance on exporting raw materials.
Economic Growth and Self-Sufficiency
President Subianto stated that downstreaming is key to Indonesia’s economic growth and energy self-sufficiency, as reported by ANTARA News. The government intends to add at least six more downstreaming projects this year, with further phases planned for the future.
Criticism of Overseas Wealth
During the ceremony, President Subianto also criticized Indonesian business leaders for keeping their wealth overseas, according to ANTARA News. He urged them to reinvest in Indonesia to support national development.
Future Plans
The launch of these projects signifies Indonesia’s commitment to strengthening its domestic industries and reducing its dependence on raw material exports. The government’s plan to add further downstreaming projects this year indicates a sustained focus on this economic strategy.