More from Jordan Phosphate
Minister of State-owned Enterprises Erick Thohir has recently posted on his social media account a moment of when he held a meeting with Chairman of the Board of Directors of Jordan Phosphate Mines Co Plc (JPMC), Mohammad Thneibat and President Director of state-owned fertilizer producer PT Petrokimia Gresik, Dwi Satriyo Annurogo. In the meeting, they discussed the opportunities for strategic cooperation expansion in the fertilizer industry.
EV Industry Update
The Vietnamese EV manufacturer VinFast plans to open its manufacturing plan in India by June 30, which will be followed by another plant in Indonesia in October. VinFast plans to prioritize its sales in India, Indonesia, the Philippines, and Vietnam. Meanwhile, the Company has delayed the opening of its North Carolina plant until 2028.
Steel industry update
Indonesia recorded trade surplus of US$4.21 billion from iron and steel (HS72) in the first three months of 2025, lifted from US$3.49 billion in the corresponding period last year, mainly due to substantial decline in import.
LG Energy Solution’s withdrawal & the rise of LFP
MIND ID, local partner of LG Energy Solution’s US$7.7 billion nickel-to-EV battery project, claimed that withdrawal of the South Korean consortium is not a problem because it is now being offered to the United States as part of the deal to ease tariffs imposed by Trump. MIND ID, parent of Aneka Tambang (ANTM) and Vale Indonesia (INCO), two of nickel producers, provided no further details.
LG Energy Solution’s withdrawal from US$7.7 billion Indonesia battery project
South Korea’s battery manufacturer consortium that includes LG Energy Solution, LG Chem, LX International Corp, and other partners has decided to withdraw its US$7.7 billion investment to establish an electric vehicle (EV) battery supply chain in Indonesia. This is another major blow for Indonesian investment after last year’s decision from BASF and Eramet to abort US$2.8 billion nickel project.
Revisiting Batang Industropolis
Allmed Medical, a global leader in wound care and infection control firm, has recently started construction of its largest manufacturing facility at Industropolis Batang Special Economic Zone (SEZ) with a total investment of US$100 million (approximately Rp1.7 trillion).
Hyundai and the Policy Reality of Electric Vehicles
Hyundai Motor Company recently announced a major strategic shift: doubling its global hybrid vehicle lineup from 7 to 14 models. This move reflects the company’s adaptation to the realities of the market—namely, the declining global demand for battery electric vehicles (BEVs) and inconsistent regulations across various countries, including Indonesia.
Chandra Asri & The Singapore acquisition
Shell plc, through its subsidiary Shell Singapore Pte. Ltd, has completed the previously announced sale of its Shell Energy and Chemicals Park (SECP) to CAPGC Pte. Ltd on March 28, 2025. CAPGC is a joint venture firm that is majority-owned and operated by Chandra Asri (TPIA), the leading chemical and infrastructure company in Indonesia and minority-owned by Glencore through their respective subsidiary companies.
The growing EV ecosystem
State-owned electricity firm PLN has provided a total of 3,500 public electric vehicle charging stations (SPKLU) at 2,412 strategic points across Indonesia for anticipating the surge in EV users during the 2025 Eid homecoming season. This year, EV usage during Eid homecoming is projected to reach 21,570 vehicles, surged from 4,314 vehicles last year.
New cement project in Central Java?
Central Java governor Ahmad Luthfi, who is now cadre of President Prabowo’s Gerindra Party, has just welcomed leaders of PT Anugerah Andalan Asia, which plans to build new cement mill in Wonogiri Regency with estimated investment of Rp6 trillion. What happened to the moratorium policy from Central Government?