Bahlil Opens: China Is Also Interested In Electric Battery Investment In Indonesia, Not Just South Korea

JAKARTA - Investment Minister/Head of BKPM Bahlil Lahadalia said there are six to seven foreign companies that will invest in electric battery projects in the country. Bahlil said, these countries are still negotiating with the government. Therefore, Bahlil denied that only South Korea was invited to cooperate.

"So this is about 6-7 countries that will enter Indonesia (for investment in the electric battery industry project). So it's not true that only Korea. No country can regulate Indonesia, no. So we provide a fair investment space," he said in a virtual press conference, Friday, September 17.

Furthermore, Bahlil revealed that a number of investors came from Europe, China, and one country in Southeast Asia. However, he said, currently only China has signed.

The company from China in question is Contemporary Amperex Technology Co. Ltd. (CATL). The company has signed an investment contract in 2020 and will realize it this year.

"The temporary development of the CATL process, I pray God willing, this year the groundbreaking will begin," he said.

Meanwhile, for one of the countries in Southeast Asia, said Bahlik, it is targeted to sign an investment contract in October 2021. Unfortunately, Bahlil was reluctant to reveal the identity of the investor.

"Maybe I'll sign it in October, then I'll announce it. We at the Investment Ministry have a rule when it's signed, it's announced. At least it's believed to be true, then we'll announce it. We don't want to announce it half-heartedly," he explained.

As is known, Indonesia has just started the construction of its first electric battery factory in Karawang, West Java. The factory is part of an investment by the South Korean LG consortium of 9.8 billion US dollars.