"We hope to conduct the groundbreaking this year. Following the direction of President Prabowo Subianto, we can do it in the first semester," Lahadalia said after the signing of the Antam-IBI-HYD consortium agreement in Jakarta on Friday.
Lahadalia said the groundbreaking could proceed once all necessary preparations are completed.
He then added that the Huayou consortium’s EV battery ecosystem project is a continuation of the one previously developed by the LG consortium.
The project was initially agreed upon between Indonesia and South Korea’s LG Energy Solution on December 18, 2020, under what was known as the Indonesia Grand Package.
The package encompasses the development of an integrated EV battery supply chain, from mining to battery production, targeting a total battery production capacity of 30 gigawatt-hours (GWh).
LG has already built the first 10 GWh of capacity, while the remaining 20 GWh will be continued by Huayou.
In early 2025, LG was reported to have withdrawn from the Indonesia Grand Package project and was subsequently replaced by Huayou.
“The project will be developed in two locations. The electric vehicle battery plant will be located in West Java, while the smelter, precursor, cathode, and high-pressure acid leach (HPAL) facilities will be built in East Halmahera, North Maluku, because the mine is located in East Halmahera,” the minister explained.
Lahadalia witnessed the signing of the framework agreement by the Antam–IBI–HYD consortium, marking the formation of an official partnership to realize the integrated electric battery ecosystem project.
He said the cooperation framework was signed by PT Aneka Tambang Tbk (Antam), PT Industri Baterai Indonesia, also known as Indonesia Battery Corporation (IBI), and global strategic partner Zhejiang Huayou Cobalt Co., Ltd., to accelerate the development of an integrated battery ecosystem in Indonesia.
The collaboration also involves HYD Investment Limited, a consortium formed by Zhejiang Huayou Cobalt Co., Ltd. and EVE Energy Co., Ltd., as well as PT Daaz Bara Lestari Tbk.
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Translator: Putu Indah S, Resinta Sulistiyandari
Editor: M Razi Rahman
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