On Plans for a State-Owned Textile Firm to Acquire Sritex Assets, Danantara Chief Comments

Jakarta, CNBC Indonesia — The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) is preparing several options for establishing a company in the textile sector. One option is to acquire assets belonging to PT Sri Rejeki Isman Tbk (Sritex), which has been declared bankrupt.

BPI Danantara Chief Operating Officer Dony Oskaria said acquiring Sritex’s assets was one of the options being considered, alongside plans to establish a new company. The proposals are still under review.

“That is indeed one option [acquiring Sritex’s assets],” Dony told reporters at the Fairmont Hotel in Senayan, Jakarta, on Monday (26 October 2026).

He said there were several possible approaches to building a textile factory, including taking over existing company assets or constructing a new facility. Acquiring assets could be particularly beneficial if it helped prevent job losses.

“We can take over an existing business, especially if its closure would result in substantial job cuts. We need to save it, but improve its business model and put it on a sounder footing,” Dony said.

“There is also the option of opening a new factory; that is being studied. When building a company, we can either acquire one or build it from scratch,” he added.

Dony said the government intended to enter the textile industry from upstream to downstream, with the aim of creating a significant number of jobs.

“Especially given the market we have: a population of nearly 300 million. We cannot supply our own textile needs, so this is what we are working on,” he said.

Asked about a planned investment of Rp5.55 billion—or Rp100 trillion—to revive the national textile industry, Dony said he could not yet confirm the figure. He said the budget would depend on the requirements when the industry-building process began.