On October 30, according to Indonesian media reports, Chinese battery material manufacturer CNGR Advanced Materials Co., Ltd. plans to build a battery industrial park worth $10.5 billion in Indonesia. Magdalena, an Indonesian director of CNGR Group, stated that the total investment in this industrial park is $10.5 billion, to be developed in three phases. It has been designated as a national strategic project by the Indonesian government, which will provide investment incentives including land. The park requires 3,000 to 5,000 hectares of land, and the project location is still under consideration. The planned park welcomes partners in the battery industry chain to join.
CNGR Group was established in September 2014 as a subsidiary of Hunan CNGR Holding Group Co., Ltd., engaging in the precursor materials business for lithium battery cathodes. It was listed on the Shenzhen Stock Exchange in December 2020. Benefiting from the trend of high-nickel adoption and steady growth in ternary battery demand, CNGR Group's market share in ternary precursors reached 27% in the first half of 2023, with total shipments exceeding 120,000 tons, ranking first in the industry since 2020. Since 2021, CNGR Group has invested IDR 32.1 trillion in Indonesia, building nickel processing smelters in Morowali, North Morowali, Weda Bay, and Batulicin.
In 2020, Indonesia announced a ban on nickel ore exports, aiming to leverage its abundant nickel resources along with a series of investment incentives to attract more electric vehicle manufacturers and battery producers to invest and establish operations in Indonesia, creating an integrated battery industry and EV ecosystem. Over the past decade, dozens of Chinese companies led by Tsingshan Group have invested in Indonesia's nickel mining industry, not only giving China a significant advantage in the supply chain of stainless steel and new energy battery raw materials but also enabling Indonesia's nickel industry to upgrade from simply exporting raw ore to downstream smelting domestically—a historic leap. Indonesia has gained substantial added value from mining. From 2012 to 2022, Chinese enterprises invested at least $14.2 billion in building Indonesia's nickel smelting industry chain from scratch. Indonesia's nickel export value increased from $3.3 billion in 2017 to $33.8 billion in 2022.
On October 20, 2024, under the leadership of Indonesia's new President Prabowo Subianto, Indonesia will continue its policy of downstream mineral processing, creating significant investment opportunities in the country's mineral deep-processing industry.
On October 30, according to Indonesian media reports, Chinese battery material manufacturer CNGR Advanced Materials Co., Ltd. plans to build a battery industrial park worth $10.5 billion in Indonesia. Magdalena, an Indonesian director of CNGR Group, stated that the total investment in this industrial park is $10.5 billion, to be developed in three phases. It has been designated as a national strategic project by the Indonesian government, which will provide investment incentives including land. The park requires 3,000 to 5,000 hectares of land, and the project location is still under consideration. The planned park welcomes partners in the battery industry chain to join.
CNGR Group was established in September 2014 as a subsidiary of Hunan CNGR Holding Group Co., Ltd., engaging in the precursor materials business for lithium battery cathodes. It was listed on the Shenzhen Stock Exchange in December 2020. Benefiting from the trend of high-nickel adoption and steady growth in ternary battery demand, CNGR Group's market share in ternary precursors reached 27% in the first half of 2023, with total shipments exceeding 120,000 tons, ranking first in the industry since 2020. Since 2021, CNGR Group has invested IDR 32.1 trillion in Indonesia, building nickel processing smelters in Morowali, North Morowali, Weda Bay, and Batulicin.
In 2020, Indonesia announced a ban on nickel ore exports, aiming to leverage its abundant nickel resources along with a series of investment incentives to attract more electric vehicle manufacturers and battery producers to invest and establish operations in Indonesia, creating an integrated battery industry and EV ecosystem. Over the past decade, dozens of Chinese companies led by Tsingshan Group have invested in Indonesia's nickel mining industry, not only giving China a significant advantage in the supply chain of stainless steel and new energy battery raw materials but also enabling Indonesia's nickel industry to upgrade from simply exporting raw ore to downstream smelting domestically—a historic leap. Indonesia has gained substantial added value from mining. From 2012 to 2022, Chinese enterprises invested at least $14.2 billion in building Indonesia's nickel smelting industry chain from scratch. Indonesia's nickel export value increased from $3.3 billion in 2017 to $33.8 billion in 2022.
On October 20, 2024, under the leadership of Indonesia's new President Prabowo Subianto, Indonesia will continue its policy of downstream mineral processing, creating significant investment opportunities in the country's mineral deep-processing industry.