Bisnis.com, JAKARTA — The government aims to increase its involvement in domestic nickel downstream projects across the entire value chain—from upstream to downstream—by raising ownership stakes in several joint ventures with foreign investors through Danantara.
President Prabowo Subianto has approved Huayou Holdings to join the integrated nickel downstream project, replacing LG Energy Solution. Several planned projects are confirmed to proceed as scheduled. Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia stated that the current national ownership share in mining within the integrated downstream project with LG Energy Solution is approximately 51%. However, in other joint ventures, the national ownership remains around 30%.
"We are working to increase national ownership in joint ventures involved in integrated downstream projects," he mentioned at the Presidential Palace Complex on Thursday (22/5/2025).
According to him, efforts will be made to secure national ownership of 51% of the joint ventures, either through state-owned enterprises (SOEs) or the Daya Anagata Nusantara Investment Management Agency (BPI Danantara). A similar approach will be applied to the project with Contemporary Amperex Technology Co. Limited (CATL), where BPI Danantara will participate to enhance the involvement of local players.
BPI Danantara CEO Rosan Roeslani stated that they have held meetings with Huayou Holdings officials to discuss the details of the integrated nickel downstream cooperation in Indonesia.
“Now that BPI Danantara is joining to strengthen this consortium, we hope national ownership can become the majority,” he said.
“To date, Huayou has invested around $8.8 billion in the country, with those projects completed. Huayou has conveyed plans for future investments that could reach an additional $20 billion, according to their projections,” he added.
Rosan mentioned that Huayou requested some time to finalize the new project plan, with detailed investment plans expected to be disclosed in the third week of May 2025. Meanwhile, news has emerged about BPI Danantara’s active involvement in the domestic nickel downstream sector. The institution is reportedly in talks with Eramet SA, a French mining company, to explore a potential partnership in a nickel smelter project. This collaboration could mark BPI Danantara’s first significant investment transaction.
