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
31 Jul 2023, 12:00 PM

MMS Group Indonesia Appoints China ENFI as Mitra Murni Perkasa Nickel Smelter Project Contractor in ...

ENFI
5031 Views
News
21 Oct 2024, 20:15 PM

PT Vale Plans Phase I Watershed Rehabilitation of 3,081 Hectares in Southeast Sulawesi

Ist
2068 Views
News
09 Apr 2023, 12:00 PM

Kideo Coal Sales and Production Volume Increases in the First Two Months of 2023

industri.kontan.co.id
3987 Views
News
20 Feb 2024, 13:54 PM

Minister of Industry Requires Industry to Produce Mining Vehicles That Suit Local Conditions

ANTARA / Muzdaffar Fauzan
3162 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.