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Indonesia sees 32 billion USD investment in EV battery chain

Indonesia's Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan on May 30 revealed that the country can receive an estimated 31.9 billion USD in investments for project tied to battery supply chain by 2026.
Indonesia sees 32 billion USD investment in EV battery chain ảnh 1Indonesia sees 32 billion USD investment in EV battery chain (Photo:auto.economictimes.indiatimes.com)

Jakarta (VNA) - Indonesia's Coordinating Minister for Maritime Affairs andInvestment Luhut Binsar Pandjaitan on May 30 revealedthat the country can receive an estimated 31.9 billion USD ininvestments for project tied to battery supply chain by 2026.

According to the minister, with the country rich in nickelused in batteries for electric vehicles (EV), the government wants to see moreinvestment in nickel downstream sectors to boost economic growth.

He said the Kalimantan region can receive 12.35 billion USDin investment while North Maluku and Sulawesi can attract 9.78 billion USD and 9.84 billion USDin battery supply chain projects, respectively.

To encourage investment from emissions-conscious investors,the Indonesian government has touted the North Kalimantan industrial park onBorneo island as "green”, with a plan to power activities there withhydropower. Companies have committed to producing aluminium there.

Luhut said that the North Kalimantan industrial park can houseprojects that could produce batteries with a total capacity of 265 GW hours andpetrochemical, iron and steel, alumina and silicon industries.

Indonesia is known for its abundant coal supply and use, and thecountry is trying to cut emissions and promote tougher environmental, socialand governance (ESG) standards.

The minister warned that his ministry will shut downfactories which do not comply with ESG, adding that Indonesia will not allowdeep sea tailings disposal - a controversial method of releasing wastematerials into the ocean - for high-pressure acid leaching (HPAL) operations,and will encourage companies to turn the waste into useful materials./.

VNA
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