The Indonesian Battery Company (IBC) has signed an Agreement (HoA) with China's Nuode New Material Co., Ltd., China's Sinoron International Construction Co., Ltd., and PT Sentosa Laju Sejahtera (SLS) regarding the development of a battery copper foil processing plant in Indonesia. It aims to strengthen Indonesia's position in the global battery ecosystem and meet global copper foil demand. The project can boost Indonesia's economic growth, create job opportunities, promote technology transfer and domestic copper deep processing, and increase product added value. IBC's Director of Development & Operations stated that the cooperation is a strategic step to advance Indonesia's downstream industry and its position in the global battery ecosystem. Sinoron's Business Director expressed honor in supporting Indonesia and IBC in developing the electric vehicle and battery ecosystem, while Nuode's Director hopes that Indonesia will become a future copper foil production hub and global supplier. Nuode is one of the world's largest copper foil producers. In October 2024, IBC, Nuode, and Sinoron had signed a Memorandum of Understanding (MoU). This HoA represents further cooperation. The MoU scope covers research on market potential for copper foil used in lithium-ion batteries and PCBs, arrangements for cathode copper and sulfuric acid supply, and plans to invest in a joint venture for the production of copper foil for batteries and electronic PCBs.