Gov’t to Accelerate Execution of Downstreaming Projects

Minister of Investment and Downstreaming/Head of the Investment Coordinating Board Rosan Roeslani delivers a press statement following a meeting with President Prabowo at Merdeka Palace in Jakarta, Thursday (11/06). (Photo by: BPMI of Presidential Secretariat)

The Government is rolling out downstreaming projects that have been thoroughly evaluated, Minister of Investment and Downstreaming/Head of the Investment Coordinating Board Rosan Roeslani has said.

The Minister made the statement following a meeting with President Prabowo Subianto at Merdeka Palace in Jakarta on Thursday (11/06) to discuss measures to expedite national economic growth, particularly through strategic investment and downstreaming projects in various sectors.

“The President ordered that the projects that have been evaluated properly and appropriately begin. For instance, if there are several out of 18 projects that have met the financial, legal, administrative, and technological conditions, they can be executed shortly,” he said to the press at the Presidential Palace complex.

According to Rosan, they also discussed the follow-up on President Prabowo’s working visit to Cilegon city, Banten province, which took place earlier on the same day as the meeting, where the Head of State inspected the petrochemical industry project of private chemical company Lotte Chemical.

“I accompanied the President to Cilegon to visit Lotte Chemical. Upon that visit, he saw that it was something positive, so we are carrying out a comprehensive, thorough evaluation of downstreaming projects that have been mapped out and launched,” he said.

Rosan pointed out that, in addition to discussing downstreaming project readiness, the meeting highlighted financing aspects, adding that the funding for strategic national projects is in very good condition.

“As for the funding, we have no problem. We have very good, very solid funding. We also had our ratings checked by [domestic credit rating agency] Pefindo, which issued a triple-A rating, and Fitch, which also issued a triple-A rating, the highest rating we received. I reported it to the President,” he said.

Moreover, Rosan stated that the waste-to-energy program, one of the President’s priorities, has garnered the interest of more than 240 potential foreign investors.

“The President asked for an update. I reported that we are in the process of screening. We have gone through the registration and screening of potential investors. More than 240 have shown their interests,” he said.

Rosan further stated that seven regions have received approval from the Ministry of the Environment and the Coordinating Ministry for Food Affairs to proceed with the bidding process, which is expected to begin next week.

“Since the seven (regions) have the land available, adequate waste, adequate road and water infrastructure, we can expedite the projects there,” he remarked. (BPMI of Presidential Secretariat) (DH/MUR)