Home / Directory / List News / Detail News

Aneka Tambang to send subsidiaries to EV battery industry

www.idnfinancials.com

Thu 12 Jan 2023, 08:00 AM

Share

Events

PT Aneka Tambang Tbk (ANTM) has prepared two of its subsidiaries, PT Sumberdaya Arindo (SDA) and PT Nusa Karya Arindo (NKA), to work on the project of the upstreaming development of the electric vehicle (EV) battery ecosystem.

Syarif Faisal Alkadrie, Corporate Secretary of ANTM, claimed that both subsidiaries have adequate nickel reserves to support business in the EV sector. However, these subsidiaries are still currently initiating partnerships with other investors.

“As of now, we are currently negotiating with two strategic partners, PT Ningbo Contemporary Brunp Lygend Co. Ltd. (CBL) and LG Energy Solution (LGES),” Alkadrie explained, as quoted from Investor Daily.

The negotiation is now entering the phase of principle discussion. As ANTM is representing Indonesia’s state-owned enterprise, it chooses to exercise caution in this negotiation phase. “This finalisation will include the determination of the roles of SDA and NKA in the upstreaming business,” Alkadrie further added.

The management of ANTM expects this deal with CBL to be closed by the first half of 2023. Meanwhile, the development of the new mining area for EV battery project is estimated to commence later this year. (KR/ZH)

Image source: KR/ZH

Source: https://www.idnfinancials.com/news/45631/aneka-tambang-send-subsidiaries-ev-battery-industry

Advertisement

Relate News

News
19 Dec 2023, 12:00 PM

Darma Henwa (DEWA) Allocates Huge Capex Next Year

DEWA
2787 Views
News
30 Apr 2023, 12:00 PM

Bayan Resources (BYAN) Prepares Capex up to USD 250 Million for 2023

industri.kontan.co.id
3295 Views
News
17 Nov 2023, 09:00 AM

BRMS Optimizes New Gold Reserve Discovery in Poboya

BRMS
2733 Views
News
08 Oct 2024, 09:27 AM

Adaro wins five awards at GMP Award 2024

ANTARA/HO-Adaro
855 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.