PHOTO
China's Contemporary Amperex Technology Co (CATL) announced on Thursday that a unit of its subsidiary Guangdong Brunp Recycling Technology Co (Brunp) signed a tri-party framework agreement with PT Aneka Tambang (ANTAM) and PT Industri Baterai Indonesia (IBI) to cooperate on the Indonesia EV Battery Integration Project.
The $5.968 billion integrated project, located in the FHT Industrial Park of East Halmahera of Indonesia's North Maluku Province, includes nickel mining and processing, EV battery materials, EV battery manufacturing, and battery recycling, according to CATL's press statement.
ANTAM is a member of the state-owned mining company MIND ID of Indonesia. IBI, or the Indonesia Battery Corporation, is a state-owned company engaged in the battery electric vehicle and EV ecosystem, and also a subsidiary of MIND ID and ANTAM.
'The project will further enhance CATL's footprint in the battery industry, ensure the supply of upstream raw materials and resources, lower manufacturing cost, and promote the development of the battery recycling business' the statement said.
Robin Zeng, founder and chairman of CATL said the project is an important milestone for CATL as it expand its global footprint. Buhut Binsar Pandjaitan, Coordinating Minister for Maritime Affairs and Investments said the framework agreement is of significant importance to Indonesia as the Southeast Asian country strives to build out an EV ecosystem.
(Writing by SA Kader; Editing by Anoop Menon)
