CATL said that its holding subsidiary Prokin Times and its partners ANTAM and IBI jointly invested in the construction of power battery industry chain projects in the FHT Industrial Park in East Hamahela County, North Maluku Province, Indonesia, and other related industrial parks in Indonesia. The total investment amount determined for the project shall not exceed USD 5.968 billion or its equivalent.
The investment of CATL includes the development of laterite nickel ore, pyrometallurgy, hydrometallurgy, ternary battery material battery recycling and ternary battery and other industrial integration battery industry chain projects, involving 6 sub-projects, and the project construction period is 5 year. Except for the nickel mine development project, which is 49% owned by Prokin Times, the rest of the projects are controlled by the company, with a shareholding ratio of 60% or 70%. The stock ratio of Prokin Times is equivalent to a total investment of 3.937 billion US dollars.
The two cooperation partners of CATL are both Indonesian state-owned enterprises. Among them, ANTAM is a state-owned mining company listed in Indonesia, mainly engaged in the mining business of various types of minerals; IBI is an Indonesian state-owned company. The company, the national mining company and related parties newly formed an investment company dedicated to battery production, mainly investing in battery and related industry chain projects in Indonesia and overseas.
CATL said that the implementation of this project is conducive to further improving the company's strategic layout in the lithium battery new energy industry, ensuring the company's upstream key resources and raw material supply, reducing the company's production costs, and promoting the company's battery recycling industry layout. In addition, the investment and construction of this project will increase the company's capital expenditure and cash expenditure, but in the long run, it will have a positive impact on the company's business layout and operating performance, which is in the interests of all the company's shareholders.
