By Li Panpan

(JW Insights) Sep 27 -- Chinese battery materials producer GEM (格林美) will set up a plant to produce ternary precursor materials for power batteries in Indonesia with an investment of over RMB1.095 billion ($149.93 million) through its subsidiaries, announced the company on September 25.

The plant will be Indonesia's first high-nickel power battery ternary precursor material project with an annual output of 30,000 tons. It will be located in the Indonesia Morowali Industrial Park (IMIP) in Morowali Regency, Central Sulawesi Province.

It will provide raw materials for major power battery material manufacturers in the European and American markets. The project construction period is 24 months, from October 2023 to October 2025, said the company.

Built around the nickel resource production area, the plant uses the nickel cobalt manganese hydroxide precipitate (MHP) from the company’s local raw material plant, reducing manufacturing costs and completing the local industry chain from raw material to new energy ternary materials in Indonesia.

GEM was founded in Shenzhen in 2001 and listed on the Shenzhen Stock Exchange in 2010.