The BUMN Battery Holding Is Named IBI, Will Inaugurated In June

JAKARTA - Chairman of the Electric Vehicle (EV Battery) Project Acceleration Team, Agus Tjahajana, said that the establishment of a BUMN holding electric vehicle batteries is targeted to be completed in June 2021.

Furthermore, Agus said that the state-owned battery holding company would be named PT Industri Baterai Indonesia or IBI.

"The name is already there even though there is no deed. The target of the Deputy Minister is at least June. But from the progress I think it could be faster because yesterday we had a meeting and had an agreement", he said in a virtual discussion, Thursday, March 4.

As planned, IBI will contain four state-owned companies. They are PT Indonesia Asahan Aluminum (Persero) or MIND ID, PT Aneka Tambang (Persero) Tbk or Antam, PT Pertamina (Persero), and PT Perusahaan Listrik Negara (Persero) aka PLN.

"About a quarter of each share", he said.

Agus said the investment plan that will be carried out depends on the capacity of the battery being produced. According to preliminary calculations, the projected investment required will reach 13 billion dollars or the equivalent of IDR 185.25 trillion (exchange rate of IDR 14,250 per US dollar) until 2026-2027. This investment projection is to support the production capacity to reach 30 GWh.

Furthermore, said Agus, if 70 percent of the capacity is met, the investment will reach 17 billion US dollars with a capacity of 195 GW.

"To make a capacity of 195 GW, it takes around 150,000 tons of nickel per year. We are still talking seriously with our partners regarding when and how much. That will determine the total if it is implemented", he said.