Jakarta, CNBC Indonesia – The battery giant company from South Korea, LG Chem Ltd, is certain to sign an investment cooperation to encourage downstream nickel to become electric car batteries in Indonesia.
This was stated by the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan in a Gadjah Mada University seminar broadcast via the YouTube channel, Tuesday (17/11/2020),
“This week, if there is no change, LG from Korea will sign it immediately,” said Luhut.
LG Chem Ltd is one of a number of world-class battery companies that have expressed an interest in investing in Indonesia. Apart from LG, there is also Contemporary Amperex Technology Co. Ltd (CATL).
“And now we approach the other, I guess still on going,“he explained.
Previously, a number of BUMNs also formed the holding company PT Indonesia Battery to build this integrated battery factory. This holding is led by the mining holding holding of MIND ID or Inalum through PT Aneka Tambang Tbk, together with PT Pertamina (Persero) and PT PLN (Persero).
Inalum Orias CEO Petrus Moedak said that the Indonesian Battery Holding company would later be directed to cooperate with the two potential partners from China and South Korea.
Unmitigated, he said the investment value is even estimated at US $ 12 billion or around Rp. 177.6 trillion (assuming an exchange rate of Rp. 14,800 per US $).
“Cooperation with Chinese and Korean partners, from upstream to downstream, is around US $ 12 billion. A concrete cooperation plan has been prepared, a plan to use nickel to produce batteries,” he explained.
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