Investment in Indonesia's largest nickel-based industrial park hits $26b

The latest addition to the Indonesia Morowali Industrial Park is a new plant owned by China's QMB New Energy Materials. ST PHOTO: WAHYUDI SOERIAATMADJA
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MOROWALI, Central Sulawesi - Indonesia's largest nickel-based industrial park in Sulawesi's Morowali has seen investment more than quadruple to US$18 billion (S$26 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.

The latest addition to the Indonesia Morowali Industrial Park (IMIP) is a new plant owned by China's QMB New Energy Materials, which boasts an annual capacity to make 30,000 tons of ternary precursor, mainly used to help make electric-vehicle battery cells, solar panels, wind turbines.

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