Hailiang to Build US$ 849 Mln EV Battery Copper Foil Plant in JIIPE

By Editorial Team 31/03/2023
Foreign investment
Summary

PT Hailiang Nova Material Indonesia (Hailiang) and PT Berkah Manyar Sejahtera (BKMS) - a joint venture between PT AKR Corporindo Tbk (AKRA) and PELINDO - signed a sale and purchase agreement for the sale of land in Java Integrated Industrial and Port Estate (JIIPE), Gresik, East Java.

Hailiang is a Zhejiang Hailiang Co Ltd subsidiary listed on the Shenzhen Stock Exchange. China's Zhejiang Hailiang, one of the world's largest copper tube and bar manufacturers, will invest US$ 849 million to build a factory in Indonesia that makes the high-performance copper foil used in electric car batteries.

Based on the Mar 29 agreement between Hailiang and BKMS, BMKS agreed to sell large industrial land for the construction of Hailiang's copper foil production plant in the JIIPE Special Economic Zone.

Hailiang also signed an agreement with BKMS for cooperation in the provision of various utilities, including electricity, water, natural gas, sewage treatment, telecommunications, and internet facilities, as well as other infrastructure and facilities that support the operation of its factory in JIIPE.

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