Jakarta, CNBC Indonesia – Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia met with Executive Chairman and CEO of Korea Zinc Choi Yun-beom on Wednesday (6/9/2023).
During the meeting, Korea Zinc stated that it was interested in investing in Indonesia amounting to US$ 600 million or around Rp. 9.2 trillion.
“Korea Zinc expressed its interest in establishing a nickel smelter facility with HPAL (High Pressure Acid Leaching) technology in Indonesia,” as uploaded on Instagram @bkpm_id, quoted on Friday (8/9/2023).
BKPM wrote that Korea Zinc estimates that with the investment value, its factory in Indonesia will be able to produce Mixed Hydroxide Precipitate (MHP) with a capacity of 40,000 tons per year. MHP is an intermediate product of the processing and refining of low grade nickel before being further processed into nickel sulfate and cobalt sulfate.
BKPM said that Korea Zinc’s investment would be carried out in the form of a joint venture with a local company in Indonesia.
Korea Zinc is a leading non-ferrous metal processing company headquartered in Seoul, South Korea with revenues of US$ 8.7 trillion in 2022 and has been operating since 1974.
The company produces around 21 types of non-ferrous metals and focuses on sustainable industries through the development of renewable energy and secondary batteries.
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