Indonesia's US$5.9 bn battery project sparks environmental concerns
Indonesia is the world's largest nickel producer and it is trying to capitalise on its vast reserves, with a 2020 export ban spurring a domestic industrial boom of the key metal used in EV batteries and stainless steel.
The EV battery project will include a US$4.7 billion investment on the eastern island of Halmahera and a US$1.2 billion investment in West Java, Energy Minister Bahlil Lahadalia said in a speech alongside President Prabowo Subianto.
'According to my calculations, it won't take long; in probably between five to six years we will be able to reach energy self-sufficiency,' Prabowo said at a groundbreaking ceremony in Karawang, West Java.
Bahlil said the Halmahera complex will focus on mining, smelting and production of cathodes, which are a key component in rechargeable batteries.
The West Java complex will focus on battery cell production, the minister said.
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