Verda Nano Setiawan, CNBC Indonesia
Friday, 12/22/2023 10:21 WIB
Photo: Coordinating Minister for Maritime Affairs and Fisheries Luhut Binsar Pandjaitan at the 2023 Performance Evaluation Press Conference towards a Golden Indonesia 2045. (Youtube Screenshot of the Indonesian Coordinating Ministry for Maritime Affairs and Investment)
Jakarta, CNBC Indonesia – Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut Binsar Pandjaitan revealed that the electric vehicle battery company from China, China Ningbo Contemporary Brunp Lygend Co Ltd (CBL) agreed to invest in Indonesia.
Luhut said that CBL agreed to invest US$ 420 million or around Rp. 6.5 trillion (assuming an exchange rate of Rp. 15,533 per US$) in Indonesia. He said that CBL had officially signed this investment plan.
“Actually, it has been signed, it’s approximately US$ 420 million, so even though the nickel price has dropped a bit, I think progress is being made. It will be announced on the 28th (December),” he said during an online press conference, Friday (22/12/2023 ).
As is known, CBL, the subsidiary of Contemporary Amperex Technology Co. Ltd. (CATL), will collaborate with PT Industri Battery Indonesia or Indonesia Battery Corporation (IBC) for the battery cell project, and PT Aneka Tambang Tbk (Antam) from the upstream side of mining to nickel processing.
CBL has signed a three-party framework agreement with Antam and PT Industri Batteries Indonesia (IBI) on Thursday (14/4/2022).
This collaboration is within the Indonesian EV Battery Integration Project (electronic vehicle/electric vehicle), which includes nickel mining and processing, EV battery materials, EV battery manufacturing, and battery recycling.
Initially, the total value of the electric vehicle battery project to be built with CBL was estimated at almost US$ 6 billion or around 86.1 trillion (assuming an exchange rate of Rp. 14,350 per US$).
Antam’s Managing Director, Nicolas D. Kanter, said that the cooperation project with China was considered to be developed more quickly compared to the planned cooperation project with South Korea.
He said that his party already had sufficient references, so the process of collaborating with CBL was considered to be faster and easier.
“I personally see this, we already have a reference, this CBL. So it will be easier, God willing. It’s easier, oh yes, this is how it used to be. So we have a reference to use as a benchmark,” he said when met at the DPR Building. RI, Jakarta, quoted Thursday (13/4/2023).
Not only that, he said, the project with China could run more quickly because he and Hong Kong CBL had signed a Conditional Share Purchase Agreement (CSPA) on January 16 2023. The CSPA is related to the transfer of 49% of Antam’s shares in a subsidiary, PT Sumberdaya Arindo (SDA) in a joint project with CBL.
The signing of the CSPA is the first step in realizing the implementation of the electric vehicle battery ecosystem development project in Indonesia and is in line with Antam’s commitment to supporting the development of this project.
Apart from that, in this collaboration it is hoped that CBL (through HKCBL) can contribute directly to the technological aspects and business experience it has through collaboration with Antam at PT SDA, and at the same time become Antam’s strategic partner in implementing integrated EV battery projects in Indonesia.
“The current status is January 16 2023, we have signed the CSPA, Conditional Share Purchase Agreement and Shareholder Agreement with CBL. And the conditions that must be met, including obtaining approval from China, God willing, will be completed in October,” he explained in the Hearing Meeting with Commission VII DPR RI, Jakarta, Wednesday (12/4/2023).
Watch the video below:
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(wia)
2023-12-22 03:21:51
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