Awaiting Prabowo's Downstreaming Game Plan, What's in Store?


The Investment Ministry reported that downstream investment projects reached Rp 75.8 trillion in the first quarter of 2024. Although this decreased from Rp 109.4 trillion in the fourth quarter of 2023, it still represents a significant portion of total investment realization. Investment Minister Bahlil Lahadalia stated that total investment realization in the first quarter of 2024 grew by 22.1 percent to Rp 401.5 trillion. "Downstream program investments account for 18.9 percent of total investment realization in the first quarter of 2024," he said on Monday, Apr. 29.

In detail, mineral downstream investment reached Rp 43.2 trillion. It included Rp 33.4 trillion for nickel smelters, Rp 8.4 trillion for copper smelters, and Rp 1.4 trillion for bauxite smelters. Downstream investment in the forestry sector reached Rp 13.3 trillion, with the bulk coming from the pulp and paper industry. In the agricultural sector, downstream investments reached Rp 11.1 trillion from crude palm oil/oleochemical factories. The oil and gas sector attracted Rp 7.4 trillion in investments from petrochemical projects. "Investments in the electric vehicle ecosystem reached Rp 0.8 trillion in battery projects," Bahlil noted.

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