Jakarta, July 13 -- Indonesia's sovereign wealth fund Danantara is developing 26 downstream industrial projects worth Rp225 trillion (about US$12.4 billion) to boost value-added processing and create nearly 38,000 jobs, Chief Operating Officer Dony Oskaria said.

The portfolio spans mining, energy and agriculture, including aluminum, stainless steel and copper smelters, sustainable aviation fuel, bioethanol, palm oil processing, coconut industries and integrated poultry farming.

"Downstream industrialization not only attracts investment, but also creates jobs, boosts regional economies and ensures more value added remains in Indonesia," Oskaria said on Monday.

The projects are being rolled out in two phases. Phase I, launched on Feb. 6,...