July 13, 2023
Kendal, 13 July 2023 --- A groundbreaking event has been held for the
construction of the PT LBM Energi Baru Indonesia Factory located in Kendal Industrial Park (Kendal SEZ), Central Java. PT LBM
Energi Baru Indonesia is a subsidiary of the Singapore-based company LBM New
Energy (AP) Pte Ltd which is also a subsidiary of Lopal Tech Company.
Lopal Tech which is the holding company of PT LBM Energi Baru Indonesia
has been established since 2003, headquartered in Nanjing, Jiangsu, China. At
the start of its business journey, Lopal Tech produced automotive spare parts
such as lubricant oil and automotive chemicals. Then it developed into a
leading provider of Green Energy and Green Chemical in the world with a total
of 16 factories and 30 subsidiary companies.
The construction of the factory in Kendal is the first investment for
Lopal and LBM in Southeast Asia. PT LBM Energi Baru Indonesia will produce LFP
(Lithium Iron Phosphate) Cathode Material with a total production capacity of
120,000 tons of LFP. The factory being built has an investment value of up to
USD 290 million or the equivalent of 4 trillion rupiah.
Soo as the President Director of PT LBM Energi Baru Indonesia said that
the construction of this factory was driven by the increasing global demand for
lithium ion batteries as a component of electric vehicles. This is in line with
the current global community towards the use of green energy to reduce climate
change. "We have great hope that the construction of this factory can be
carried out according to the target, so that PT LBM Energi Baru Indonesia can
start operating at the end of this year." said Soo
He also explained his reasons for choosing Indonesia as the location for
their business expansion in Southeast Asia, "This is the first time for us
to expand outside of China. We are very confident in choosing Indonesia,
precisely in the Kendal Special Economic Zone. We see this based on the
completeness of international standard infrastructure and the Special Economic
Zone facilities provided such as tax holidays, free VAT, and import
duties."
Later when it operates, the factory will absorb around 1,000 workers
from the Kendal and surrounding areas. Stanley Ang as CEO & President
Director of Kendal Industrial Park (Kendal SEZ) revealed that Kendal SEZ will participate in
supporting the process of operating PT LBM Energi Baru Indonesia by assisting
with the licensing process, searching for workers, to submitting fiscal
facilities from SEZ.
Kendal Regent Dico M Ganinduto was also present and enthusiastically
welcomed today's groundbreaking event. "We are proud that Kendal has been chosen as the location for the construction
of the first LFP factory in Indonesia. Of course, this has had quite a big
impact, especially for economic development in Kendal Regency, as well as the job opportunities for
local people. We also hope that with this, Kendal can be increasingly looked at
as an investment location in Central Java."