DBS co-leads $625m finance deal in Indonesia battery metals project

REUTERS/Edgar Su/File Photo

Singapore bank DBS Group said on Thursday it has co-led a group of lenders in a $625 million financing deal for a battery nickel and cobalt project in Indonesia.

The project by PT Halmahera Persada Lygend (PT HPAL) is expected to be the first smelter in Indonesia to use high-pressure acid leach (HPAL) technology to produce nickel and cobalt chemicals used in making batteries for electric vehicles.

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