Indonesian sovereign wealth fund Danantara and GEM, a Chinese green metallurgy company, have teamed up develop a US$1.42 billion nickel smelter in Indonesia.
They have signed an agreement to establish the co-investment framework for the smelter, which has a planned capacity of 66,000 tonnes per annum, Danantara says in a statement on September 2.
According to Rosan Roeslani, chief executive officer of Danantara, the partnership can help accelerate Indonesia’s socioeconomic transformation.
“By joining forces with a global pioneer in green metallurgy, we are advancing the country’s downstream agenda while ensuring sustainability and innovation remain at the forefront,” he says.
Launched in February, Danantara manages government-owned companies with combined assets of more than $900 billion.
