Antam CEO Provides Latest Updates on Electric Vehicle Battery Projects
PT ANTAM (Persero) Tbk (ANTM) has revealed the latest developments regarding two strategic integrated nickel downstreaming projects, primarily aimed at strengthening the electric vehicle (EV) battery ecosystem in Indonesia.
These two projects are the Dragon Project, developed within the PT Sumberdaya Arindo area, and the Titan Project, located within the PT Nusakarya Arindo area in North Maluku.
ANTAM President Director Untung Budiharto stated that the development of both projects is part of the company’s strategy to build an integrated EV battery ecosystem, from upstream to downstream. “The downstream project that is the focus on this occasion is the electric vehicle battery ecosystem, which is integrated from ore mining, processing through RKEF and HPAL facilities, to the development of battery materials such as precursors, cathodes, and battery cells,” Untung said during a hearing with Commission XII of the Indonesian House of Representatives (DPR RI), as reported on Wednesday (16/09/2026).
The Dragon Project involves the division of six main joint ventures (JV) from upstream to downstream between a consortium consisting of CATL (via Ningbo Contemporary Brunp Lygend Co. Ltd. (CBL)), PT ANTAM (Persero) Tbk (ANTM), and Indonesia Battery Corporation (IBC).
In JV1, which covers mining operations, ANTAM is currently entering the construction development stage in the North Sangaji area. Subsequently, in JV2, which covers the processing side, the company is entering the construction stage for the development of Rotary Kiln Electric Furnace (RKEF) facilities and an industrial estate.
Meanwhile, for JV3, which involves the construction of High Pressure Acid Leach (HPAL) facilities, ANTAM has completed the Final Investment Decision (FID) stage. This stage will be followed by the investment process. For JV4, development is directed towards battery materials; the process is currently in the feasibility study and FID preparation stage.
On the downstream side through JV5, construction progress of the factory in Karawang continues, and ANTAM is awaiting the official inauguration of the battery cell factory. Next, for JV6, which covers black mass processing, ANTAM is still in the joint venture formation stage. “Overall, this progress shows that the development of ANTAM’s battery ecosystem is proceeding in a parallel and integrated manner,” said Untung.
In addition to the Dragon Project, ANTAM is also developing the Titan Project in the PT Nusakarya Arindo area, North Maluku. Untung noted that the Titan Project has entered the Joint Feasibility Study (JFS) stage. This study will serve as a basis for the company and its partners in determining investment decisions in the next stage.
“Currently, the Titan Project has entered the Joint Feasibility Study stage as a basis for future investment decisions. Overall, this project is expected to strengthen the integration of the battery ecosystem while complementing the development currently being implemented in the Dragon Project,” he added.
According to CNBC Indonesia records, the investment value for the Dragon Project from upstream to downstream reaches US$5.9–6 billion, while the Titan Project reaches approximately US$8.6 billion.