Posted on 19 Oct 2023
Chinese lithium battery material giant BTR and Singapore's Stellar Investment Pte, a subsidiary of Chinese nickel giant Tsingshan, recently agreed to jointly invest in and construct an 80,000 tonnes/year lithium battery anode material production capacity at the Indonesia Morowali Industrial Park (IMIP) of Central Sulawesi and the Kendal Industrial Park (KIP) of Java Province in Indonesia, Kallanish learns. .
The project was signed at the China-Indonesia Business Forum at China’s third Belt and Road International Cooperation Summit held this week in Beijing. Witnessed by Indonesian President Joko Widodo, BTR and the Indonesian Ministry of Maritime and Investment Coordination signed the project investment framework cooperation agreement.
The two parties hope to jointly carry out beneficial projects to expand BTR's influence in the global industry, promote local economic and employment growth in Indonesia, and support the development of Indonesia's local electric vehicle industry.
The ministry will provide policy support for this project. It will assist BTR to coordinate with various Indonesian government agencies and other entities to ensure the smooth progress of the project during project investment, production, and operation stages.
The first phase of the project requires investment of about $478 million and may provide 1,200 local jobs.
Source:Kallanish
