Danantara and China's GEM to Develop Nickel Processing Hub in Indonesia

DANANTARA - JAKARTA. Indonesian sovereign wealth fund Danantara will invest to develop a nickel processing hub with Chinese battery and material recycler GEM, tapping into $8.3 billion in funds available for investment in 2025, an official said on Tuesday.

The project will mark Danantara's first foray into Indonesia's crucial nickel sector as the government seeks to capitalise on the country's vast resources of a metal used in electric vehicle (EV) batteries. Indonesia is the world's biggest nickel producer.