China's Huayou Has Invested US$8.8 Billion in Indonesia, Plans to Reach US$20 Billion
Jakarta, CNBC Indonesia — Minister of Investment and Downstream Industries and Head of the Investment Coordinating Board (BKPM) Rosan Roeslani revealed that Chinese company Huayou has already invested US$8.8 billion in Indonesia, equivalent to approximately Rp147.48 trillion (at an assumed exchange rate of Rp16,759 per US dollar).
As previously reported, Huayou will replace South Korean firm LG Energy Solution (LGES) in a mega project for the electric vehicle battery supply chain in Indonesia valued at US$9.8 billion.
"Huayou alone has invested US$8.8 billion in Indonesia as of today. They have already committed the investment — it's already completed," Rosan explained when met at his office in Jakarta on Tuesday (29/4/2025).
He further noted that Huayou plans to increase its investment in Indonesia to US$20 billion, equivalent to Rp335.56 trillion.
"They have conveyed the potential for investment from the Huayou group going forward — according to their calculations, it could reach an additional US$20 billion," he added.
Rosan stated that he would meet with Huayou again next month to discuss the continuation of investment plans to replace LG in the electric vehicle battery supply chain project.
"They will elaborate on their next projects in May. They have requested the third week of May," he added.
Furthermore, Rosan disclosed that aside from planning to replace LG's position, Huayou also intends to expand its projects domestically, specifically in the Weda Bay Industrial Park in Central Halmahera, North Maluku, and Morowali, Central Sulawesi.
"They now also want to develop their own industrial park land, similar to those in Morowali and Weda Bay. We want to expand to other locations as well. The planned location is in Pomalaa, Southeast Sulawesi," he concluded.
As previously reported, Huayou will replace South Korean firm LG Energy Solution (LGES) in a mega project for the electric vehicle battery supply chain in Indonesia valued at US$9.8 billion.
"Huayou alone has invested US$8.8 billion in Indonesia as of today. They have already committed the investment — it's already completed," Rosan explained when met at his office in Jakarta on Tuesday (29/4/2025).
He further noted that Huayou plans to increase its investment in Indonesia to US$20 billion, equivalent to Rp335.56 trillion.
"They have conveyed the potential for investment from the Huayou group going forward — according to their calculations, it could reach an additional US$20 billion," he added.
Rosan stated that he would meet with Huayou again next month to discuss the continuation of investment plans to replace LG in the electric vehicle battery supply chain project.
"They will elaborate on their next projects in May. They have requested the third week of May," he added.
Furthermore, Rosan disclosed that aside from planning to replace LG's position, Huayou also intends to expand its projects domestically, specifically in the Weda Bay Industrial Park in Central Halmahera, North Maluku, and Morowali, Central Sulawesi.
"They now also want to develop their own industrial park land, similar to those in Morowali and Weda Bay. We want to expand to other locations as well. The planned location is in Pomalaa, Southeast Sulawesi," he concluded.