Wednesday, May 29, 2024

Ministry identifies 96 strategic projects set for continuation in future government

Reading Time: 2 minutes
Journalist IBP

Journalist

Editor

Interview

The Coordinating Ministry for the Economy has unveiled a comprehensive report revealing 96 National Strategic Projects (PSN) poised for continuation by the subsequent administration.

Sixteen of these 96 PSNs are newly sanctioned initiatives this year to join the 80 ongoing endeavors from previous years, scheduled for culmination post-2024.

Susiwijono Moegiarso, Acting Deputy for Regional Development and Spatial Planning at the Coordinating Ministry for the Economy, disclosed that a significant portion of the 16 freshly endorsed PSNs has commenced the groundbreaking process.

However, Susiwijono cautioned that adjustments to the list of projects continued by future governments remain plausible.

“We will meticulously assess each project against our criteria, eliminating those failing to meet the standards,” Susiwijono said on Tuesday, May 14, 2024.

The lifecycle of project implementation entails three phases: preparation, construction, and completion. To ascertain project continuity, the government has established four criteria, encompassing securing permits and land acquisitions, financial closure, groundbreaking, and construction completion.

Susiwijono underscored the importance of promptly evaluating the 233 active PSNs by the conclusion of June 2024, emphasizing the necessity to avert stagnant projects that may encumber forthcoming administrations.

In contrast, Susiwijono aims to conclude 41 PSNs this year. Of these, 21 projects are slated for completion by September 2024, with the remaining 20 earmarked for conclusion in October-December 2024.

Wahyu Utomo, Deputy for Regional Development and Spatial Planning at the Ministry, previously underscored the collective value of the 41 PSNs at Rp 500.07 trillion (US$31.12 billion).

It is anticipated that 32 PSNs expexted to be finalized before October 20, 2024, will account for Rp 489.49 trillion, while those concluded under subsequent administrations will total Rp 10.58 trillion.

The most financially significant among these national strategic projects is the Bantaeng Industrial Area construction in South Sulawesi, valued at Rp 155 trillion.

Conversely, the development of Sorong Port, valued at Rp 121.9 billion, stands as the least expensive project and is slated for completion in November 2024.

During Wahyu’s presentation, particular emphasis was placed on dam projects as a predominant category among those slated for conclusion under future governments.

Notable among these are the Marangkayu Dam, Tigadihaji Dam, Bener Dam, Bagong Dam, Budong-Budong Dam, and Rukoh Dam.

This year, 14 dam projects are anticipated to reach completion, contributing to a cumulative total of 61 dams constructed between 2015 and 2024.

Journalist IBP

Journalist

 

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

PT Medco Energi Internasional has announced the divestment of its stake in the oil and gas field Area 47 in Libya to the Libya National Oil Corporation (NOC).
Indonesia has harnessed less than 1 percent of its solar energy potential, lagging significantly behind neighboring countries as fossil fuels continue to dominate
CNGR, a major Chinese company in the nickel processing industry and a key supplier of battery components for US electric car producer Tesla, is aggressively increasing its investments in Indonesia.
PT Freeport Indonesia (PTFI) President Director Tony Wenas has confirmed that the copper smelter in the Java Integrated Industrial Port Estate (JIIPE) area in Gresik, East Java, is on track to start operations by June 2024.
Jakarta, May 27, 2024 − PT Perusahaan Gas Negara (PGN), a gas subholding of State energy company PT Pertamina, has paid off the remaining bonds worth US$396,709,000 in accordance to the maturity date as part of the repayment of the overall bond value of US$1.35 billion issued in 2014 and listed on the Singapore Exchange.
Coordinating Minister for the Economy, Airlangga Hartarto, met with Daisuke Arakawa, a senior executive at Nikkei Inc, in Tokyo on Friday, outlining the Indonesian government’s commitment to energy transition through collaboration with Japan. One key area of cooperation is investment in electric vehicles (EVs).