Published on October 6, 2025, by Bisnis.com
By Dionisio Damara Tonce
Bisnis.com, JAKARTA — Movements made by Indonesia’s sovereign wealth fund PT Danantara Investment Management (Persero) began to surface in the fourth quarter of 2025. Danantara is reportedly muling a $10 billion or about Rp165.83 trillion in its first three months of operations starting October 2025.
According to a report by Reuters, Chief Investment Officer (CIO) Danantara Indonesia Pandu Sjahrir said about 80% of funds will be allocated for domestic projects. The rest will be placed overseas.
“This is the first month we distribute capital. Within the first the months, we must deploy nearly $10 billion,” Pandu said.
The first projects will be the hajj village in the Saudi Arabia, the upstream energy projects with PT Pertamina (Persero), as well as waste-to-energy projects. Several of these projects are expected to begin operations by the end of 2025.
Regarding the waste-to-energy project or Waste Processing into Electrical Energy (PSEL), Danantara plans to launch 33 PSEL projects across regencies. Eight of these projects will be launched by the end of October 2025.
The investment requirement for each PSEL with a capacity of 1,000 tons per day and its supporting infrastructure is estimated to reach Rp2 to Rp3 trillion, totalling about Rp66 trillion to Rp99 trillion.
PSEL financing is said to not only come from Danantara, but it opens up for private companies and regionally-owned enterprises (BUMD). Danantara ensures that the partner selection process will be carried out openly through a tender mechanism.
On the other hand, Pandu stated that Danantara is also working to increase liquidity in the stock market, which currently has an average daily trading value of around $1 billion, lagging behind India’s $10 to $11 billion.
“We need a strong capital market so that the private market can enter, because the stock market is a means for the re-flow of that capital,” he said.
This reaffirms Pandu Sjahrir’s statement in April 2025, stating that Danantara Indonesia is ready to become a liquidity provider for the Indonesian stock market.
According to Bisnis’ record, the Indonesia Stock Exchange (IDX) welcomed Danantara’s intention to become a liquidity provider. However, current IDX regulations only specify which Exchange Members can become liquidity providers.
“The IDX welcomes Danantara’s support for Exchange Members which are subsidiaries of state-owned enterprises, to participate as liquidity providers, not only to become [the so-called] lighthouse companies but also for stocks included in the Stock Liquidity Provider Securities List,” Nyoman said on Monday (23/6).
Editor’s note: Nyoman may referred to I Gede Nyoman Yetna, IDX director of corporate assessment.