IBC Boss Calls Battery Project Investment From China CATL Starting This Month
JAKARTA - IBC President Director Toto Nugroho provides certainty regarding investment in the development of the electric battery ecosystem from Contemporary Amperex Technology Co. (CATL) through his consortium in Indonesia, PT Ningbo Contemporary Brunp Lygend Co, Ltd. (CBL). Toto said investment from CATL will enter this December.
Later, the incoming investment will take effect from upstream to downstream from the battery ecosystem and recycling batteries.
"God willing, in the end of December investment from CATL from upstream to downstream will enter," said Toto, quoted on Tuesday, December 12.
Toto added that the total investment that CATL will inject is worth 5.8 billion US dollars or equivalent to Rp90.5 trillion.
"Later there will be a date to be nounced, the figure is 5.8 billion US dollars overall, CATL," he said.
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Just so you know, CATL will join IBC in the Dragon Project via CBL.
The funds will be absorbed in a vertical manner within a period of 3 to 4 years. Meanwhile, CBL and IBC are known to have completed a feasibility study related to nickel downstream.
"The signed ones are not only in mines but also in HPAL smelters, precursors, cathodes, anodes to recycling," Toto concluded.