TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Danantara to fund new SOEs holding company Agrinas, senior minister says
The new state-owned agriculture holding company, which reuses the name of a previous company associated with permit fraud, is to manage three subsidiaries in food, plantations and fisheries, despite the existence of other SOEs operating in these sectors.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
The logo sign of the country’s second sovereign wealth fund, Daya Anagata Nusantara (Danantara), adorns the frontispiece of its headquarters in Menteng, Central Jakarta, as seen on Feb. 28, 2025. (Reuters/Willy Kurniawan)
A
grinas, the new agriculture holding company formed through the merger of three state-owned enterprises (SOEs), is expected to receive funding from Daya Anagata Nusantara (Danantara), according to Coordinating Food Minister Zulkifli Hasan.
The senior minister said on Monday that Agrinas would be part of the country’s new sovereign wealth fund (SWF) and therefore would not need to seek funding from the Finance Ministry, a common channel for the government to inject capital into SOEs.
“We need to review the dividends we receive from the SOEs consolidated into [Danantara],” Zulkifli said, as quoted by Bisnis.com.
Agrinas was established by combining three infrastructure SOEs, PT Virama Karya, PT Yodya Karya and PT Indra Karya, and transforming them into subsidiaries PT Agrinas Pangan Nusantara, PT Agrinas Palma Nusantara and PT Agrinas Jaladri Nusantara to focus on the food, oil palm plantation and fishery sectors, respectively.
The government of President Prabowo Subianto has gone ahead with creating Agrinas even though the country has other state-owned holding companies in the same sectors: PT Rajawali Nusantara Indonesia (ID Food), PT Perkebunan Nusantara III (PTPN) and PT Perikanan Indonesia (Perindo).
It also has sugar and oil palm plantation companies SugarCo and PalmCo, both subsidiaries of PTPN.
Agrinas is responsible for several key projects, including the development of 20,000 hectares of fish farms on Java, the establishment of six food reserve centers and the construction of rice and corn mills to strengthen local food production.
