Chinas

Indonesia says China’s CATL plans to invest $5 billion in lithium battery plant

JAKARTA (Reuters) – China’s Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia, Indonesia’s deputy minister at the coordinating ministry of maritime and investment affairs said on Tuesday.



a tall building: FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde


© Reuters/CHINA STRINGER NETWORK
FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde

The lithium battery plant will start production in 2024, deputy minister, Septian Hario Seto, told a virtual briefing.

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“The target is that they (CATL) will invest around $5 billion… and the first production of batteries can be done in 2024,” Septian said.

He said CATL has signed an agreement with Indonesian state miner PT Aneka Tambang requiring CATL to ensure 60% of nickel be processed into batteries in Indonesia.

“We don’t want them to get our nickel but then process it abroad,” he said.

CATL did not immediately respond to

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China’s dry ice equipment sector in full swing to meet US COVID-19 vaccine transport needs



Global Times

By Yin Yeping Source: Global Times Published: 2020/12/13 19:43:40

China’s dry ice equipment suppliers in full swing

As US President Donald Trump hailed the launch of COVID-19 vaccines, dry ice and its machine suppliers in China are working in full swing to respond to soaring demand for the cold chain, in which ice dry plays an indispensable part, with some companies’ export orders to the US jumping by an unprecedented 10 to 20 times year-on-year.

Industry insiders predicted that the shortage of dry ice will be further worsened with the launch of more vaccines, and it may not be eased within half a year.

Pfizer’s vaccine should be stored at -70 C, pushing up demand for dry ice, which has widely been used in the delivery of deep sea fish, beef and imported fruit – products that often have high requirements for transport temperatures.

Meanwhile, logistic disruptions due

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China’s new home prices slow in November as tightening steps cool market

New home prices up 0.1% m/m in November vs 0.2% in October

New home prices up 4.0% y/y in November vs 4.3% in October

36 out of 70 cities reported higher prices, vs 45 in October

Adds number of cities reporting higher prices, context

BEIJING, Dec 14 (Reuters)New home prices in China grew at a slower monthly pace in November, official data showed on Monday, with tightening policies continuing to cool the market in larger cities while some smaller towns saw prices fall as demand waned.

Average new home prices in 70 major cities rose 0.1% in November from the previous month, the slowest pace since March when the market was battered by coronavirus-induced lockdown measures, Reuters calculated from National Bureau of Statistics (NBS) data. That compared with 0.2% on-month growth in October.

Prices rose 4.0% in November from the same month a year earlier, the weakest

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