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.
