Chinese company GEM Co. Ltd. plans to build an International Green Industrial Park (IGIP) in Morowali, Central Sulawesi, with an estimated investment of USD 8 billion (approximately IDR 129.74 trillion). The initial construction investment is USD 2 billion. The project focuses on battery recycling and zero emissions, aiming to utilize all waste from nickel processing to avoid releasing exhaust gases or carbon into the environment. Previously, GEM invested USD 30 million in building a China-Indonesia joint laboratory at Bandung Institute of Technology (ITB) to cultivate local talent. GEM recovers over 30 rare resources such as cobalt, nickel, and lithium, and processes more than 10% of batteries and electronic waste. From January to September 2024, sales of the company's main products such as ternary precursors and cobalt tetroxide increased significantly year-on-year. Nickel production, sales, and battery recycling volume from the Indonesian nickel project also improved markedly, while tungsten recycling revenue grew by 47.35%. In November 2024, GEM signed a USD 1.4 billion cooperation agreement with PT Vale Indonesia (INCO) to build a zero-emission nickel processing plant, producing 60,000 tons of nickel pig iron annually, including investments in research, ESG, and community development. GEM founder Xu Kaihua expressed hope that in the future, global batteries and electronic waste can be shipped to Indonesia for recycling. Regarding the electric vehicle battery industry, GEM has investment plans but will participate as a shareholder rather than directly operating.
Chinese company GEM Co. Ltd. plans to build an International Green Industrial Park (IGIP) in Morowali, Central Sulawesi, with an estimated investment of USD 8 billion (approximately IDR 129.74 trillion). The initial construction investment is USD 2 billion. The project focuses on battery recycling and zero emissions, aiming to utilize all waste from nickel processing to avoid releasing exhaust gases or carbon into the environment. Previously, GEM invested USD 30 million in building a China-Indonesia joint laboratory at Bandung Institute of Technology (ITB) to cultivate local talent. GEM recovers over 30 rare resources such as cobalt, nickel, and lithium, and processes more than 10% of batteries and electronic waste. From January to September 2024, sales of the company's main products such as ternary precursors and cobalt tetroxide increased significantly year-on-year. Nickel production, sales, and battery recycling volume from the Indonesian nickel project also improved markedly, while tungsten recycling revenue grew by 47.35%. In November 2024, GEM signed a USD 1.4 billion cooperation agreement with PT Vale Indonesia (INCO) to build a zero-emission nickel processing plant, producing 60,000 tons of nickel pig iron annually, including investments in research, ESG, and community development. GEM founder Xu Kaihua expressed hope that in the future, global batteries and electronic waste can be shipped to Indonesia for recycling. Regarding the electric vehicle battery industry, GEM has investment plans but will participate as a shareholder rather than directly operating.