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Battery firm to build new $1.8bn plant in Indonesia
25 February 2025
Image: ZETHA_WORK via AdobeStock - stock.adobe.com
Indonesian firm PT Merdeka Battery Materials has signed an agreement to build a US$1.8 billion high-pressure acid leach (HPAL) plant in the country.
The plant will produce nickel materials for use in electric vehicle (EV) batteries and will have a capacity of 90,000 tonnes per year.
PT Sulawesi Nickel Cobalt (SLNC) will construct and operate the plant within the Indonesia Morowali Industrial Park (IMIP), adjacent to the existing HPAL plant operated by PT Huayue Nickel Cobalt (HNC). HNC is a joint venture led by Zhejiang Huayou Cobalt (Huayou).
A subsidiary of Huayou will manage the construction of the new HPAL plant under the management agreement with SLNC.
The total investment for constructing SLNC (including interest incurred during construction) is expected to be approximately $1.8 billion. The new plant is expected to reach commissioning stage within 18 months.
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