Recently, Rosan Roeslani, Chief Executive Officer of Indonesia’s sovereign wealth fund INA, announced that the fund has launched six natural resource processing projects with a total investment of USD 7 billion, including a green energy refinery project by Pertamina, Indonesia’s state-owned oil and gas company. The other projects cover alumina and aluminum smelters, an ethanol plant, a palm oil blended aviation fuel plant, and an integrated livestock and poultry farming facility.

These projects form part of the 18 priority natural resource processing projects planned by the Indonesian government for this year, with a combined investment of IDR 618 trillion. Roeslani stated that Indonesia emphasizes accelerating the development of downstream industrial projects that directly benefit people’s livelihoods. According to Pertamina, its refinery in Cilacap, Central Java, produces aviation fuel from used cooking oil, with a current daily output of 3,000 barrels, which is expected to rise to 6,000 barrels. The company is also cooperating with a state owned plantation enterprise to build a bioethanol plant in East Java with an annual capacity of 30,000 kiloliters.