China's CNGR plans to build around $10 bln battery plant in Indonesia

Reuters

Oct 30, 2024

JAKARTA, Oct 30 (Reuters) - Chinese battery material maker CNGR Advanced Material Co is planning to build an battery material plant worth $10 billion in Indonesia, a local official for the company said on Wednesday.

The $10 billion investment will take place over 10 to 15 years and the company is looking for a suitable location for the plant, Magdalena Veronika, a director at CNGR Indonesia told reporters.

(Reporting by Fransiska Nangoy; Writing by Stefanno Sulaiman; Editing by Tom Hogue)

((Stefanno.Sulaiman@thomsonreuters.com;))

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