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CATL investment gives RI leg up in lithium battery production
A government minister has revealed that China-based Contemporary Amperex Technology Co. (CATL) has bought stakes in two subsidiaries of PT Aneka Tambang (Antam) in an investment set to propel Indonesia’s lithium battery industry for electric vehicles (EV).
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An employee works in a lithium battery manufacturing company in Huaibei in eastern China's Anhui province on Nov. 14, 2020. (AFP/STR)
H
ong Kong CBL Limited (HKCBL) is entering Indonesia’s electric vehicle (EV) battery industry through investments in publicly listed PT Aneka Tambang (Antam), according to Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan.
HKCBL is a unit of Ningbo Contemporary Brunp Lygend Co. (CBL), which is a holding subsidiary of China’s Contemporary Amperex Technology Co. (CATL).
“I congratulate Antam, CBL and Indonesia Battery Corporation [IBC] for the investment partnership in the lithium battery supply chain ecosystem in Indonesia,” Luhut said, as quoted in a press statement released on Thursday.
HKCBL entered the scheme by acquiring 49 percent of PT Sumberdaya Arindo (SDA) and 60 percent of PT Feni Haltim (FHT), which are subsidiaries of Antam specializing in nickel mining and processing.
It paid Rp 3.9 trillion (US$258 million) and Rp 737.4 billion, respectively, for the stakes in SDA and FHT, according to an information disclosure released by Antam on Thursday.
The document details that, further down the line, these transactions are to translate into the development of an EV “ecosystem” in Indonesia that includes mining projects, as well as the establishment of a high-pressure acid leaching (HPAL) plant.
Moreover, the plan entails battery material production and battery recycling as well as the “development, construction and operation of a lithium-ion battery factory”.
