Investment in #Indonesia’s largest #Nickel-based industrial park hits US$18bil

Indonesia’s largest nickel-based industrial park in Sulawesi’s Morowali has seen investment more than quadruple to US$18 billion in the past four years, with analysts expecting South-East Asia’s largest economy to rely on the green metal – used to power electric vehicles – to break out of the middle-income trap.

Nickel boosts a battery’s energy density, while cobalt ensures the battery do not easily overheat or catch fire.

Indonesia has nearly a quarter of the world’s nickel reserve, and the metal has become one of its major exports and is forecast to surpass coal and palm oil.

Indonesia’s nickel-related exports surged to US$20.8 billion in 2021, from around US$2 billion in 2013. The first six months of 2022 recorded US$15.1 billion. Indonesia’s total exports in 2021 were US$231.5 billion.

Read more at:

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s