Chinese firms plan to build international green industrial park

Chinese company GEM Co. Ltd. plans to build the International Green Industrial Park (IGIP) in Morowali, Central Sulawesi, with an estimated investment of US$8 billion (about 129.74 trillion rupiah).With an investment of US$2 billion in pre-construction, the project focuses on battery recycling and zero-emission, aiming to utilize all waste materials from nickel processing and avoid emissions or carbon into the environment. Previously Grimme has invested $30 million through the construction of a joint China-Indonesia laboratory at the Institut Teknologi Bandung (ITB) to train local talent. Greenmax recycles more than 30 types of rare resources such as cobalt, nickel and lithium, and processes more than 10% of batteries and e-waste. from January to September 2024, the sales of the Company's main products such as ternary precursors and cobalt tetroxide increased significantly year-on-year, while nickel production, sales and battery recycling from the nickel project in Indonesia increased significantly, and revenue from tungsten recycling sales increased by 47.35%. in November 2024 , Grimme signed a US$1.4 billion cooperation agreement with PT Vale Indonesia (INCO), aiming to build an emission-free nickel processing plant that will produce 60,000 tons of ferronickel per year and include investment projects such as scientific research, ESG and community development. Xu Kaihua, founder of Grimme, said he hopes that in the future the world's batteries and electronic waste can be shipped to Indonesia for recycling. For its involvement in the electric vehicle battery industry, Greenmax has investment plans, but will participate as a shareholder rather than operate directly.