Fisheries Ministry Seeks $1.6 Billion from Danantara for Coastal Aquaculture Revitalization
Jakarta. Indonesia’s Ministry of Marine Affairs and Fisheries has requested Rp 26 trillion ($1.6 billion) in funding from state wealth fund Danantara to support a large-scale aquaculture revitalization project along the northern coast of Java.
The initiative targets the rehabilitation of 78,550 hectares of shrimp and fish ponds, to be carried out in three phases.
Haeru Rahayu, the ministry’s Director General of Aquaculture, said the first phase will cover 20,000 hectares of state-owned land designated as a "Food Security Forest Area" under a Forestry Ministry permit.
“We have submitted a formal proposal to Danantara for around Rp 26 trillion to fund this project. We are now waiting for the opportunity to present the details,” Haeru said.
First Phase in West Java
The initial phase will focus on four regencies in West Java: Bekasi, Karawang, Subang, and Indramayu. Coordination is underway with local governments and West Java Governor Dedi Mulyadi.
Haeru stressed the project’s potential to generate employment, estimating that the first phase alone could create 40,000 jobs, assuming two workers are needed per hectare.
“Beyond direct employment, the project also offers upstream-to-downstream business opportunities -- from hatcheries and feed production to product processing and distribution,” he added.
Indonesia, with its 6.4 million square kilometers of territorial waters, is one of the world’s largest producers of capture fisheries. However, aquaculture has increasingly outpaced wild catch in recent years.
In 2023, total fisheries production reached 23.5 million tons, of which only 6.5 million tons came from capture fisheries, with the rest supplied by aquaculture. The sector contributed 2.7 percent to Indonesia’s GDP that year.
Tags: Keywords:Related Articles
Indonesia Seeks Leaner, Cleaner State-Owned Enterprises
Danantara Indonesia aims to reduce a sprawling network of more than 1,000 SOEs to just around 200-300.Can Indonesia Rival Singapore? Financial Hub Plan Faces Legal Challenge
Indonesia's planned financial center may need stronger legal certainty alongside tax incentives to attract global investors.Danantara to Merge Four State-Owned Asset Managers Into One
Danantara has taken control of four state-owned asset managers and plans to merge them into a single firm overseeing more than Rp170t.Singapore on Ideal Price for Indonesian Green Power Imports
Singapore says pricing negotiations for the power imports should also take into account carbon credits and premiums.S&P Reaffirms Indonesia's BBB Rating, Flags Policy Execution Risks
S&P kept Indonesia's BBB rating and stable outlook, expecting fiscal and external pressures to ease as commodity prices recover.Indonesia-Singapore Green Power Deal Hinges on Electricity Price
Negotiations are now focused on finding a tariff acceptable to both Indonesia and Singapore.Danantara Breaks Ground on $166 Million Waste-to-Energy Plant in Bali
Danantara broke ground on a $188 million waste-to-energy plant in Bali, with operations expected to begin in 2028.Indonesia Stocks Gain Early on Fiscal Relief Hopes and AI-Led US Rally
JCI rose at Tuesday's open as hopes of lower MBG spending eased fiscal concerns, while Wall Street's AI rally buoyed sentiment.Indonesia Inks MoUs to Export Electricity to Singapore
Singaporean Prime Minister Lawrence Wong says that the cross-border electricity trade with Indonesia will be "win-win".Danantara Flags Suspected Financial Irregularities at Pos Indonesia
Danantara found suspected accounting irregularities at Pos Indonesia, prompting an overhaul as it prepares its first accounts.The Latest
Pullman Hotel Fire in Jakarta Suspected to Stem From Electrical Fault
Police will deploy a forensic team to investigate a fire at Pullman Hotel in West Jakarta, with an electrical fault suspected as the cause.Pertamina Slashes Prices of Three Fuels From Aug. 1
Pertamina cut prices for three non-subsidized fuels from Aug. 1.Trump Too Stubborn to Rejoin Paris Agreement: Indonesian Minister
Indonesia's Environment Minister Jumhur Hidayat says other countries should deal with Trump quitting the Paris Accord.Indofood Sales Rise 9% as Rupiah Weakness Hits First-Half Profit
Indofood’s first-half sales rose 9%, but net profit fell 19% as rupiah weakness increased unrealized foreign-exchange losses.JCI Ends Week Higher as Investors Digest Earnings, Fed Decision
JCI rose 0.64% as strong corporate earnings offset uncertainty over Bank Indonesia’s leadership and foreign outflows.Most Popular
