JAKARTA - Energy and Mineral Resources Minister Bahlil Lahadalia witnessed the signing of a framework of cooperation or Framework Agreement by the consortium of PT Aneka Tambang Tbk - PT Industri Baterai Indonesia (IBI) and Zhejiang Huayou Cobalt Co (HYD).
The electric vehicle (EV) battery ecosystem grand package project is known to have an investment value of 6 billion US dollars and is targeted to start construction this year.
"This is part of a very long negotiation since I was still the Head of BKPM/Investment Minister. At that time was how we encourage the development of realization and build an integrated electric car battery ecosystem," said Bahlil at the Ministry of Energy and Mineral Resources Office, Jakarta, on Friday, January 30.
This collaboration also involves HYD Investment Limited, a consortium of Zhejiang Huayou Cobalt Co., Ltd. and EVE Energy Co., Ltd., as well as PT Daaz Bara Lestari Tbk.
Bahlil emphasized that the majority ownership would be held by Antam as a state-owned enterprise because it must prioritize the interests of the state in accordance with Article 33 of the 1945 Constitution.
"I repeat, the direction of President Prabowo, that in order to reduce natural resources, both now and in the future, we must prioritize the interests of the country," he said.
However, Bahlil admitted that the development of this industry still requires the support of foreign partners, especially in the form of technology transfer, market access, and professional management.
The meeting and signing today are intended to affirm the spirit of collaboration, so that the realization of investment is mutually beneficial while maintaining the priority of the country's interests.
With plans to produce 20 Giga Watt hours (GWh) of electric battery capacity, the ecosystem developed is projected to be one of the largest in Asia.
The estimated value of investment in this project reaches 6 billion US dollars, with the potential to create around 10,000 new jobs.
The plan will be further detailed through a feasibility study that is still being prepared.
This project not only supports the development of electric vehicles, but also supports green power plants, including the battery needs for the 100 GW PLTS program.
"So this is not only for car batteries, but it is also designed for hot sun batteries," said Bahlil.
Bahlil added that the collaboration between global investors Huayou and EVE Energy with national companies such as Antam, IBI, and DBL is expected to encourage technology transfer so that national companies can eventually host their own country.
Bahlil also emphasized the importance of the involvement of regional companies in building a battery ecosystem, which is planned to involve local parties, such as partners in West Java and the development of mines, smelters, and downstream factories that will be built in North Maluku, specifically in East Halmahera.
"If we are able to do this, then Indonesia will be one of the countries after China that builds an integrated car battery ecosystem with cars in the world that does not exist yet," concluded Bahlil.
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