Battery Factory for Tesla – PT Pertamina (Persero) estimates that it requires an investment of around the US $ 3.2 billion or around Rp 45 trillion (assuming an exchange rate of Rp 14,000 per US $) to build an ecosystem for the electric vehicle battery industry in the country.
This was disclosed by Pertamina’s Finance Director Emma Sri Martini. Emma said that the electric vehicle battery ecosystem project is one of the four additional strategic projects of the company’s initiatives until 2029.
“For the EV battery (electric vehicle battery) ecosystem project, it is estimated that the CAPEX value will reach the US $ 3.2 billion
He said, because of the large investment, the company plans to seek funding through project financing, partnerships and also proposes funds from the Indonesian Sovereign Wealth Fund (SWF) or the Investment Management Institution (LPI), or the Indonesia Investment Authority (INA).
“The funding plan is open for project financing, partnership, and SWF,” he said. According to him, the battery ecosystem investment plan will be implemented between 2022-2029.
PT Pertamina (Persero) has proposed at least 17 strategic projects, both National Strategic Projects (PSN) set by the government and additional strategic projects initiated by the company, obtaining funding from the Indonesian Sovereign Wealth Fund (SWF) or the Investment Management Institute (LPI) or also known as Indonesia Investment Authority (INA).
Based on Pertamina’s data, the 17 strategic projects are worth up to around the US $ 48.5 billion or Rp 679.05 trillion.
These strategic projects include 13 National Strategic Projects (PSN) established by President Joko Widodo (Jokowi) and an additional four strategic projects initiated by Pertamina.
“From this national strategic project, there is very good potential for underlying projects funded by SWF or banking or SMI or private equity,” said Emma.