Indonesia begins 6 billion USD EV battery project
The facility will integrate multiple components, including mining operations, a smelter, high-pressure acid leach (HPAL) processing, and production of precursors and cathodes.
Indonesia is scheduled to inaugurate the groundbreaking of an integrated electric vehicle (EV) battery project in East Halmahera, North Maluku, on June 29, as part of efforts to realise its commitment to reducing greenhouse gas emissions and protecting the environment.
According to Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia, the project is backed by investment from China’s Contemporary Amperex Technology Co. Limited (CATL).
The facility will integrate multiple components, including mining operations, a smelter, high-pressure acid leach (HPAL) processing, and production of precursors and cathodes.
This will be the first project of its kind and scale in the world, Lahadalia claimed, adding that the total investment is estimated at around 6 billion USD.
With this fully integrated system, he expressed confidence that EV battery production costs in Indonesia will be significantly reduced.
The initiative is one of 18 downstream industrial projects — valued at nearly 45 billion USD — that are set to be developed in Indonesia. Other projects include those focused on nickel, bauxite, oil refining, energy storage, coal gasification (DME), as well as fisheries, agriculture, and forestry sectors./.