Latest news with #DanantaraIndonesia
DW
a day ago
- Business
- DW
Indonesia inks strategic partnership with Russia – DW – 06/19/2025
The leaders of Russia and Indonesia met in St Petersburg, where they lauded strong bilateral ties and Jakarta's new role in the BRICS grouping. Indonesian President Prabowo Subianto signed a strategic partnership agreement with Russia on Thursday following talks in St Petersburg with Russian President Vladimir Putin. The agreement comes as Indonesia enters the BRICS grouping as a full member, and Prabowo on Thursday thanked Putin for his support on Indonesia's BRICS bid. "Today we have met and our relationship is getting stronger again," Prabowo said in a statement. "My meeting with President Putin today was intense, warm and productive. In all fields of economics, technical cooperation, trade, investment, agriculture, they all have experienced significant improvements," the statement said. Putin called Indonesia one of Russia's "key partners" in the Asia Pacific. "Our relations are mutually beneficial and are steadily developing on the basis of long-standing traditions of friendship and mutual assistance," he said. Another BRIC in the wall The BRICS grouping was conceived as a counter to Western-led forums like the G7, and has provided Putin with an avenue out of international diplomatic isolation over his full-scale invasion of Ukraine. Moscow's deepening of ties with Indonesia is seen as part of a bid to partner with more global south countries. During the meeting Thursday at St Petersburg's Constantine Palace, Putin said he was confident Indonesia would make a significant contribution to the BRICS grouping, whose other members include Brazil, Russia, India, China and South Africa. Russia has also proposed deepening military, security, trade and nuclear ties with Indonesia. During the meeting, sovereign wealth fund Danantara Indonesia and the Russian Direct Investment Fund agreed to create an investment fund worth $2.29 billion (€2 billion). Indonesia's non-alignment Indonesia's president maintains a non-aligned foreign policy, vowing to share close ties with any country, including Russia and the United States. Prabowo's government has already announced trade concessions to avert the threat of tariffs from US President Donald Trump. He also insists Indonesia will not join any military bloc, although it conducted joint naval exercises with Russia in the Java Sea last November. In 2023, it upgraded its relationship with the US to a comprehensive strategic partnership. And Prabowo's government has already announced trade concessions to avert the threat of tariffs from US President Donald Trump. What is BRICS and what does it want? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Nevertheless, Jakarta's close ties with Russia have caused concern among Indonesia's Western allies. Prabowo skipped the G7 summit in Canada this week in favor of meeting Putin in Russia. His last visit to Russia was in August 2024, as Indonesian defense minister and president-elect. At the time he described Russia as a "great friend." Edited by: Zac Crellin
Forbes
2 days ago
- Business
- Forbes
Indonesian State Funds To Invest In Billionaire Prajogo Pangestu-Backed Chandra Asri's $800 Million Chemical Plant Project
Sovereign wealth funds Danantara Indonesia and Indonesia Investment Authority (INA) are investing in Chandra Asri Pacific's $800 million chemical plant project outside Jakarta. To be built in near Chandra Asri's existing petrochemical plant in Cilegon, about 100 kilometers west of Jakarta, the facility will produce 400,000 tons of caustic soda and 500,000 tons of ethylene dichloride per year when completed in 2027, the company said in a statement on Tuesday. Caustic soda is used in the manufacture of batteries for electric vehicles, while ethylene dichloride is a key ingredient to make PVC pipes. 'Danantara Indonesia and INA's entry underscores investor confidence in the growth of Indonesia's chemical industry,' Erwin Ciputra, president director of Chandra Asri Group said in the statement. 'Through this collaboration, we are building a solid foundation to drive sustainable industrial development and national economic growth.' With the new facility, Chandra Asri (controlled by billionaire Prajogo Pangestu) hopes to reduce the country's dependence on imported chemicals. Once commercial production starts, Indonesia is expected to save up to 4.9 trillion rupiah ($300 million) annually and generate up to 5 trillion rupiah in export earnings each year. To bankroll the project, Chandra Asri has earmarked a capital expenditure of up to $400 million this year. 'This investment strengthens national resilience by reducing import dependence on essential products like caustic soda and ethylene dichloride,' Pandu Sjahrir, chief investment officer of Danantara Indonesia said. 'At Danantara Indonesia, we welcome global partners who share our vision of building resilient, high-value industrial ecosystems in Asia's dynamic economy.' Chandra Asri has been expanding across Southeast Asia. In April, the company and its partner Glencore completed the acquisition of Shell's refinery and petrochemical assets in Singapore. Last month, the duo announced the acquisition of Chevron Phillips' polyethylene manufacturing operations in the city-state. Jakarta-listed Chandra Asri is part of Barito Pacific, a company originally focused on timber that Pangestu transformed into a major player in energy and petrochemicals. With a real-time net worth of $25.6 billion, Pangestu ranks among Indonesia's wealthiest individuals. He also holds stakes in publicly traded coal miner Petrindo Jaya Kreasi and Barito Renewables.
Yahoo
28-05-2025
- Business
- Yahoo
Supporting Nickel Downstream Industry in Indonesia, Danantara Indonesia and INA Announce Strategic Partnership with Eramet
Press Release Supporting Nickel Downstream Industry in Indonesia, Danantara Indonesia and INA Announce Strategic Partnership with Eramet Jakarta, 28 May 2025 – The Indonesia Investment Management Agency, Danantara Indonesia, and the Indonesia Investment Authority (INA) announced the signing of a Memorandum of Understanding (MoU) with French mining company Eramet to explore the establishment of a strategic investment platform in the nickel sector, spanning upstream to downstream operations. The signing was witnessed in person by the President of the Republic of Indonesia Prabowo Subianto, and the President of France Emmanuel Macron, at the State Palace in Jakarta on Wednesday (28/052025). This partnership aims to develop a sustainable and integrated electric vehicle (EV) battery raw materials ecosystem in Indonesia. The parties will conduct a preliminary assessment to identify the most suitable project to maximize the potential of the national EV ecosystem, while also preparing a roadmap for future collaboration. In implementing this cooperation, the parties agreed that asset management must not only prioritize efficiency and economic value, but also adhere to strict international standards. Chief Investment Officer of Danantara Indonesia Pandu Sjahrir, believes that this partnership will strengthen Indonesia's position as a global hub in the EV battery supply chain. Pandu explained that in this partnership, Danantara Indonesia and INA will manage long-term financing to support investment development, while Eramet will contribute through its technical expertise and experience in executing large-scale mining projects in line with international sustainability standards. 'This partnership reflects the commitment of all three parties to drive world-class nickel downstream investment in Indonesia, which is one of the key pillars in strengthening the competitiveness of the national industry. This collaboration also integrates global-level technical capabilities in environmentally conscious mining that supports the development of a sustainable industry,' Pandu added. Chairman of the INA Board of Directors, Ridha Wirakusumah, welcomed the partnership and stated that this initiative is an important step in strengthening Indonesia's critical minerals supply chain and downstream sector, particularly nickel, in line with INA's investment focus in the mineral and downstream industries. 'The strategic collaboration between Eramet, Danantara Indonesia, and INA combines technical excellence and a global track record in sustainable mining management with the design of long-term financing structures to support industrial growth. This synergy reflects a collective commitment to building a value-added industrial foundation within the country and attracting high-quality investments into Indonesia's strategic sectors,' said Ridha. Eramet Group Chief Executive Officer Paulo Castellari said 'With a long-term commitment in nickel in Indonesia since 2006, Eramet has significantly contributed to the development of Indonesia's largest nickel deposit over the past years.' Eramet has been actively present in Indonesia since 2006 through its nickel mining operations in Weda Bay, Maluku. Demonstrating its continued commitment to sustainable development, the company also marked a milestone in 2024 by partnering with Indonesia's Geological Agency to initiate studies and exploration of critical minerals—including lithium—as part of its support for the country's energy transition goals. 'With a clear focus on downstream processing, energy transition, and critical minerals, Danantara Indonesia and INA's priorities are well aligned with Eramet's strategic ambitions in Indonesia. We have been investigating opportunities to participate in the nickel EV battery value chain in Indonesia and we welcome today's initiative. We are ready to contribute through our sustainable mining expertise and long-term commitment to developing strategic industries in the country', added Paulo. [END] ABOUT DANANTARA INDONESIA Danantara Indonesia is a strategic investment management agency established under Law Number 1 of 2025. As an independent institution under the President, Danantara Indonesia has the mandate to manage and optimize government investments and state-owned enterprise (SOE) assets to support the achievement of the Asta Cita mission, the national strategic plan, and government programs aimed at accelerating industrialization and economic growth. With a professional, transparent, and accountable approach, Danantara Indonesia aims to strengthen the governance of state assets, create added value for the economy, and enhance Indonesia's competitiveness in the global market. For more information, visit: Media Contactmedia@ ABOUT INDONESIA INVESTMENT AUTHORITY (INA) The Indonesia Investment Authority (INA) is Indonesia's Investment Management Institution mandated to increase investments to support sustainable development in Indonesia and build national wealth for future generations. INA carries out investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia's competitive advantages and provide optimal returns with measured risks. For more information, visit Media ContactIndonesia Investment Authority (INA)Putri Dianita RuswaldiVP of ABOUT ERAMET Eramet is a global mining and metallurgy company headquartered in France. The group manages earth mineral resources to provide sustainable and responsible solutions for industrial growth and energy transition challenges. Eramet and all of its employees are committed to realizing this through a community-oriented approach and by making tangible contributions in every region where they operate. Manganese, nickel, mineral sands, and lithium — Eramet processes and develops these critical metals needed to build a more sustainable future. As a strategic partner for industry players, Eramet plays a vital role in supporting resilient infrastructure, efficient mobility solutions, safer medical technologies, and more reliable telecommunications systems. With a strong commitment to future metals, Eramet aspires to be a pioneer in the responsible transformation of earth's resources for a better shared future. As part of its long-term commitment to Indonesia, Eramet focuses on the sustainable development of mineral resources to support the national energy transition and create long-term value for the Indonesian people. Together with its strategic partner, Tsingshan Group, Eramet holds a minority ownership in PT Weda Bay Nickel (WBN), which operates in nickel mining and ferronickel production. For more information, please contact: INVESTOR CONTACT Director of Investor Relations Sandrine Nourry-Dabi T. +33 1 45 38 37 PRESS CONTACTMedia Relations OfficerNedjma AmraniT. +33 6 65 65 44 Attachment 2025-05-28-Eramet-PR-Joint Release Eramet, Danantara & INA-EN
Yahoo
28-05-2025
- Business
- Yahoo
Supporting Nickel Downstream Industry in Indonesia, Danantara Indonesia and INA Announce Strategic Partnership with Eramet
Press Release Supporting Nickel Downstream Industry in Indonesia, Danantara Indonesia and INA Announce Strategic Partnership with Eramet Jakarta, 28 May 2025 – The Indonesia Investment Management Agency, Danantara Indonesia, and the Indonesia Investment Authority (INA) announced the signing of a Memorandum of Understanding (MoU) with French mining company Eramet to explore the establishment of a strategic investment platform in the nickel sector, spanning upstream to downstream operations. The signing was witnessed in person by the President of the Republic of Indonesia Prabowo Subianto, and the President of France Emmanuel Macron, at the State Palace in Jakarta on Wednesday (28/052025). This partnership aims to develop a sustainable and integrated electric vehicle (EV) battery raw materials ecosystem in Indonesia. The parties will conduct a preliminary assessment to identify the most suitable project to maximize the potential of the national EV ecosystem, while also preparing a roadmap for future collaboration. In implementing this cooperation, the parties agreed that asset management must not only prioritize efficiency and economic value, but also adhere to strict international standards. Chief Investment Officer of Danantara Indonesia Pandu Sjahrir, believes that this partnership will strengthen Indonesia's position as a global hub in the EV battery supply chain. Pandu explained that in this partnership, Danantara Indonesia and INA will manage long-term financing to support investment development, while Eramet will contribute through its technical expertise and experience in executing large-scale mining projects in line with international sustainability standards. 'This partnership reflects the commitment of all three parties to drive world-class nickel downstream investment in Indonesia, which is one of the key pillars in strengthening the competitiveness of the national industry. This collaboration also integrates global-level technical capabilities in environmentally conscious mining that supports the development of a sustainable industry,' Pandu added. Chairman of the INA Board of Directors, Ridha Wirakusumah, welcomed the partnership and stated that this initiative is an important step in strengthening Indonesia's critical minerals supply chain and downstream sector, particularly nickel, in line with INA's investment focus in the mineral and downstream industries. 'The strategic collaboration between Eramet, Danantara Indonesia, and INA combines technical excellence and a global track record in sustainable mining management with the design of long-term financing structures to support industrial growth. This synergy reflects a collective commitment to building a value-added industrial foundation within the country and attracting high-quality investments into Indonesia's strategic sectors,' said Ridha. Eramet Group Chief Executive Officer Paulo Castellari said 'With a long-term commitment in nickel in Indonesia since 2006, Eramet has significantly contributed to the development of Indonesia's largest nickel deposit over the past years.' Eramet has been actively present in Indonesia since 2006 through its nickel mining operations in Weda Bay, Maluku. Demonstrating its continued commitment to sustainable development, the company also marked a milestone in 2024 by partnering with Indonesia's Geological Agency to initiate studies and exploration of critical minerals—including lithium—as part of its support for the country's energy transition goals. 'With a clear focus on downstream processing, energy transition, and critical minerals, Danantara Indonesia and INA's priorities are well aligned with Eramet's strategic ambitions in Indonesia. We have been investigating opportunities to participate in the nickel EV battery value chain in Indonesia and we welcome today's initiative. We are ready to contribute through our sustainable mining expertise and long-term commitment to developing strategic industries in the country', added Paulo. [END] ABOUT DANANTARA INDONESIA Danantara Indonesia is a strategic investment management agency established under Law Number 1 of 2025. As an independent institution under the President, Danantara Indonesia has the mandate to manage and optimize government investments and state-owned enterprise (SOE) assets to support the achievement of the Asta Cita mission, the national strategic plan, and government programs aimed at accelerating industrialization and economic growth. With a professional, transparent, and accountable approach, Danantara Indonesia aims to strengthen the governance of state assets, create added value for the economy, and enhance Indonesia's competitiveness in the global market. For more information, visit: Media Contactmedia@ ABOUT INDONESIA INVESTMENT AUTHORITY (INA) The Indonesia Investment Authority (INA) is Indonesia's Investment Management Institution mandated to increase investments to support sustainable development in Indonesia and build national wealth for future generations. INA carries out investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia's competitive advantages and provide optimal returns with measured risks. For more information, visit Media ContactIndonesia Investment Authority (INA)Putri Dianita RuswaldiVP of ABOUT ERAMET Eramet is a global mining and metallurgy company headquartered in France. The group manages earth mineral resources to provide sustainable and responsible solutions for industrial growth and energy transition challenges. Eramet and all of its employees are committed to realizing this through a community-oriented approach and by making tangible contributions in every region where they operate. Manganese, nickel, mineral sands, and lithium — Eramet processes and develops these critical metals needed to build a more sustainable future. As a strategic partner for industry players, Eramet plays a vital role in supporting resilient infrastructure, efficient mobility solutions, safer medical technologies, and more reliable telecommunications systems. With a strong commitment to future metals, Eramet aspires to be a pioneer in the responsible transformation of earth's resources for a better shared future. As part of its long-term commitment to Indonesia, Eramet focuses on the sustainable development of mineral resources to support the national energy transition and create long-term value for the Indonesian people. Together with its strategic partner, Tsingshan Group, Eramet holds a minority ownership in PT Weda Bay Nickel (WBN), which operates in nickel mining and ferronickel production. For more information, please contact: INVESTOR CONTACT Director of Investor Relations Sandrine Nourry-Dabi T. +33 1 45 38 37 PRESS CONTACTMedia Relations OfficerNedjma AmraniT. +33 6 65 65 44 Attachment 2025-05-28-Eramet-PR-Joint Release Eramet, Danantara & INA-EN
Business Times
25-05-2025
- Business
- Business Times
China, Indonesia sovereign wealth funds boost investment ties
China and Indonesia agreed to step up ties between their economies during Premier Li Qiang's visit to Jakarta, including one on investment involving their sovereign wealth funds. Both their central banks signed a memorandum of understanding (MOU) on a framework for bilateral transactions in local currencies during a ceremony witnessed by Li and President Prabowo Subianto on Sunday (May 25). The two countries will boost cooperation on tourism and agricultural exports, while wealth funds China Investment Corporation and Danantara Indonesia entered an investment agreement. No details were provided. Li's visit to Jakarta comes as China seeks to strengthen relations with South-east Asia amid intensifying trade tensions with Washington. It follows an inaugural 2+2 dialogue last month between Chinese and Indonesian foreign and defence ministers, talks that were widely seen as part of Beijing's strategy to court the wider regional bloc. Li is headed to a South-east Asian leaders summit in Malaysia this week. Trade and investment from Chinese companies and other multinationals into Asean have soared in recent years as US tariffs on China drove a relocation in manufacturing. Chinese and Indonesian officials also signed MOUs on economic, industry and supply chain development policies and agreed to further work on health and media sectors. Prabowo has visited China twice since winning the presidency – in April and November last year – with one of those trips resulting in more than US$10 billion in business deals. China is Indonesia's largest trading partner and a key investor in the country's commodity and infrastructure sectors, including the Jakarta-Bandung high-speed rail and nickel processing. BLOOMBERG
