Indonesian central enterprises set up new energy joint ventures with China Contemporary Ampere Technology Co., Ltd. and South Korean LG Chemical.

Eric Tosil, Minister of State-owned Enterprise Management in Indonesia, said in an interview at the Indonesian Economic Seminar that the Indonesian central government has made it clear that Indonesia's four central enterprises, namely PT. PLN Persero Cape Inalum Pelce Ro Cape Anecatan Cape Tbk. Pertamina Persero, China Contemporary Ampere Technology Co., Ltd. and South Korea's LG Chem will set up new energy vehicles.

The minister of state-owned enterprises said that Indonesia's central government should make full use of Indonesia's rich nickel resources. Indonesia wants to become one of the largest producers of new energy vehicle batteries in the world, and at the same time promote the development of new energy vehicles in Indonesia and promote environmental protection. Eric added that Indonesian central enterprises have signed cooperation agreements with China, Contemporary Ampere Technology Co., Ltd. and LG Chem. It is expected that the joint venture company will be established in June this year.

Eric said that the joint venture company carries out comprehensive nickel resources upstream and downstream industries, from nickel mining, wet process plants, battery plants to charging station networks. In the future, not only nickel mines, but also other important Indonesian products, such as coal mines, aluminum mines, palm oil and cocoa beans, will also be Indonesia's downstream industries.